Line Pay Launches Its First Co-Branded Credit Card in Taiwan with CTBC

23 Dec

Instant messaging app Line’s mobile payment arm Line Pay on Dec. 19 announced its first co-branded credit card in Taiwan, which was jointly launched with CTBC Financial Holding to target the app’s 17 million users in the country.

The co-branded CTBC Line Pay Visa card offers up to 3 percent reward points for the first year and the card has 10 designs featuring different Line Friend characters from which users can choose. The companies also hired popular South Korean actor Park Bo-gum as the card’s spokesperson.

The credit card features up to 3 percent reward Line Points, which users can use as NT$1 per point in Line apps. In addition to redeeming stickers, coffee, movie tickets, users will soon be able to redeem other products that are gradually being introduced to the reward program. The card also gives out exclusive Line stickers featuring Park Bo-gum and another Korean actor Song Joong-ki.

Liu I-cheng, CEO of CTBC’s Cards and Payment division, said the card has a target of 1.2 million members for the first year with purchase sales on the card totaling more than NT$66 billion. Liu also said Line has been focusing on expanding the use of the mobile payment in the Line family apps and realizing smart portal this year. Wu Meng-chih, Line Pay’s operating director in Taiwan, said her company is also working on expanding offline channels.

The cooperation with CTBC may help Line Pay expand its presence offline. Line Pay is the most frequently used mobile payment app in local convenient stores, according to Liu and Wu, who said the volume of transactions in Line Pay grew threefold after the app was made available in convenient stores.

Meanwhile, Line Pay is also working to expand its business into local department stores. After going online in Miramar Entertainment Park in Taipei, Line Pay will also be available next week in the 16 Shinkong Mitsukoshi department stores throughout Taiwan. Line Pay is now available in 400 online stores and has over 1.3 million registered users in Taiwan.