Line Pay to get $182M investment from parent company
Line Corp. will invest $182 million (20 billion JPY) in Line Pay Corp., the mobile money transfer and payment unit of the company, according to a regulatory filing.
The Tokyo-based messaging app company is scheduled to make the investment by the end of February, and funds will be used to for future business operations.
Late last month, Line Pay announced an agreement with Visa to launch a co-branded card that it optimized for mobile payments, according to a company release. Users will be able to make QR-code and barcode payments by linking the card with their Line Pay account.