Tokyo, Japan – February 10, 2015 – LINE Corporation, owner and operator of the free call and messaging app LINE, today announced that it has reached a definitive agreement to acquire WebPay Holdings through its subsidiary, LINE Pay Corporation. This acquisition will allow LINE to further solidify the LINE pay business, a mobile payment service that allows LINE users to make payments via LINE.
WebPay Holdings offers the “WebPay” credit card payment platform (https://webpay.jp) for developers who work with e-commerce sites, online services or mobile applications. The company is highly praised both at home and abroad for its cutting-edge technology, as well as service which offers easy to integrate API, short review period (3 working days in the shortest), secure payment system that does not process, transfer and store card data at member stores.
At the LINE CONFERENCE TOKYO 2014 held in October 2014, LINE announced its plan to become a platform for everyday life for all users, both online and offline, under the theme of “life.” LINE Pay, released in December 2014, is a core service uniting various content and services that exist both on and off the LINE platform. Through this acquisition, welcomed by both parties, LINE seeks to expand its “life” platform by further solidifying the pace of growth of the LINE pay business.
LINE will endeavor to build a solid foundation for the LIFE platform by leveraging the payment system technologies and know-how of WebPay to facilitate the enhancement of services, the improvement of usability, and the expansion of business.
Overview of WebPay Holdings
Company name:WebPay Holdings https://webpay.jp
Headquarters:Tachibana building 2F, Higashi Shinagawa 2-2-28, Shinagawa Ward, Tokyo, Japan, 140-0002
Founded:October 23, 2013
Representative:Kei Kubo (CEO)
Business description:Provision of a credit card payment platform for developers called “WebPay”
LINE Pay Corporation Overview
Name: LINE Pay Corporation
Established: May 9, 2014
Capital: JPY 150 million
CEO: Jun Masuda (CSMO, LINE Corporation)
Main businesses: E-money and other electronic currencies and issuance of pre-payment methods, management and sales, provision of electronic payment systems and movement of capital.
LINE Pay Corporation has been a member of and registered as the following entities:
・Issuer of Prepaid Payment Instruments for Third-Party Business (Registration No.: Kanto Local Finance Bureau 00669/ Date of registration: October 1, 2014)
・Funds Transfer Service Providers (Registration No.: Kanto Local Finance Bureau 00036/ Date of registration: October 1, 2014)
・Japan Payment Service Association (http://www.s-kessai.jp/, Date of admission: August 6, 2014)