・SMB service expansion in full swing: LINE waives settlement fees as for LINE Pay for Merchants app and printed QR codes
・Special promotion waiving monthly terminal fees for merchants who sign up before the end of the year
TOKYO – October 18, 2018 – LINE Pay Corporation (“LINE Pay”) announces to rename its payment terminal "LINE Pay ORIGINAL DEVICE," announced on July 30, to "LINE Pay Terminal" for its LINE Pay service, a mobile fund transfer and settlement service on the LINE messaging app operated by LINE Corporation. LINE Pay has started to accept applications from merchants interested in the LINE Pay Terminal from October 17.
At LINE CONFERENCE 2018, LINE's annual event to present the Group's business strategies, LINE Pay heralded "Payment Revolution" as a key slogan and announced its strategy to enter the SMB market, where penetration for cashless transactions is still low despite that LINE app enjoys approximately 90% share in the Japan market. Furthermore, LINE Pay announced on July 31 that a payment terminal was in development as a mean to enhance services for SMBs.
Setting up LINE Pay Terminal is quick and easy. After completing the LINE Pay Merchant screening process and receiving the LINE Pay Terminal, place the terminal at the storefront and turn it on to immediately start accepting payments using LINE Pay QR codes. Additional accessories are not necessary. Monthly fee to use the terminal is JPY 1,500 (tax exclusive) and settlement fee is 2.45% (tax exclusive) of the purchased amount. Minimum usage period is one year from the first day of the month following the shipment date. There are two ways to apply for LINE Pay Terminal: 1) Online Application for Current LINE Pay Merchants or 2) Standard mail.
LINE Pay also offers the following promotion to commemorate opening applications for LINE Pay Terminal.
LINE Pay Terminal Welcome Promotion
1. Sign up before the end of the year and have monthly terminal fees waived for 6 months
Terminal service fees (JPY 1,500 tax exclusive) will be waived for 6 months from the first day of the month following the shipment date.
2. 0% settlement fees until July 31, 2021
Settlement fees (2.45% of purchase amount) will be waived from service commence month until July 31, 2021.
Under LINE's corporate mission of Closing the Distance, LINE Pay strives to eliminate the inconvenience of cash transactions by reducing time, effort, and fees, as well as bring people closer to funds and services. LINE Pay also aims to lead the mobile FinTech world in anticipation of a cashless, walletless society, and build a world in which all monetary transactions can be handled entirely through LINE.
【LINE Pay Terminal Overview】
Name: LINE Pay Terminal
Dimensions (mm): H95×W80×D155
Weight: Approximately 430g
Connections: Bluetooth V4.2／Wi-fi／WCDMA／NFC *1
Battery Life: Up to 30 hours/ 7,800mAh rechargeable battery
QR Code Display: 2.4" Monochrome TFT-LCD (320x240) display panel
Colors: Green and White
Regions: Japan and Taiwan *2
Monthly Fees: JPY 1,500 (tax exclusive) *3
*1: NFC settlement is available only in Taiwan at the time of service launch. Availability in Japan TBD
*2: Application for LINE Pay Merchant must be submitted in each region.
*3: Minimum usage period is one year from the first day of the month following the shipment date.
1) Online Application for LINE Pay Merchants
Fill in and submit your request from the following link:
2）Apply by Regular Mail
Contact to request an application form by regular mail.
TEL: 0120-993-454 (Weekdays between 10am and 6pm, Japanese only)
*Application for LINE Pay Merchant is subject to internal screening procedures.
*"QR Code" is a registered trademark of DENSO WAVE INCORPORATED.
LINE Pay Corporation Overview (as of May 11, 2018)
Company Name: LINE Pay Corporation
Head Office: JR Shinjuku Miraina Tower 23F, 4-1-6 Shinjuku, Shinjuku-ku, Tokyo
Representative: Yongsu Ko, Representative Director and Chief Executive Officer
Capital: JPY 3.6 billion
Established: May 9, 2014
- Issuance, sales, and management of e-money, other electronic monetary value, and advance payment methods, provision of digital payment systems, and funds transfer
- Sales and operation of LINE@
- Service development
- Advertising agency
LINE Pay Corporation is a registered member of the following organizations and has obtained the following registrations in association with the launch of its business:
- Issuers of Prepaid Payment Instruments for Third-Party Business
(Registration number: the Director of the Kanto Finance Bureau 00669, Registration date: October 1, 2014)
- Funds Transfer Service Providers
(Registration number: the Director of the Kanto Finance Bureau General 00036, Registration date: October 1, 2014)