· Badge level determination criteria revealed; to take effect from August
· Bonus award rate to be applied to code payments, and monthly Point award eligibility limit increased to JPY 1,000,000
· Minimum award rate changed to 0.5% and granted to all users
TOKYO – July 23, 2018 – LINE Pay Corporation announces that "My Level," an incentive program for the smartphone wallet service, "LINE Pay," available through the LINE messaging app, will undergo an upgrade on August 1, 2018.
"My Level" is a tiered incentive program designed to reward the more active LINE Pay users with bigger benefits. The program drew a lot of attention as users shared their My Level badge colors over social media when the program launched on June 1, 2018, and the company received a great deal of feedback from users on the details of the program.
During June's "LINE CONFERENCE 2018," the company announced that "payment revolution" will be a key phrase to define the company's business strategy going forward. The company stated that it would be updating its My Level program in order to achieve greater use of its QR/barcode payments by users, which will form the foundation of this payment revolution. The company further announced that, starting August 2018, the current limit of Points being awarded only for the first JPY 100,000 in transactions will be removed and that, for the next year, users will be awarded an additional 3% in incentives on top of the amount provided under their current level whenever they make a QR/barcode payment.
Considering that during any given transaction users have the option to use cash, or one of the numerous existing cashless payment methods, the company has decided to make further updates to the My Level system based on user feedback in order to provide them with a clear reason to use this new payment method.
Upgrades to the "My Level" System
Changes (effective from August 1, 2018)
* All users will be granted a White badge simply by registering (0.5% Points award).
* The minimum Point award rate has been revised, and changes have been made to the Point award rate for each badge level. (Green: 2%; Blue: 1%; Red: 0.8%; White: 0.5%)
* The standards used to determine a user's level have been changed from a relative to an absolute evaluation.
(Green) JPY 100,000 spent in transactions + money sent to 5 users within the month
(Blue) JPY 50,000-99,999 spent in transactions + money sent to 3 users within the month
(Red) JPY 10,000-49,999 spent in transactions + money sent to 1 user within the month
(White) Up to JPY 9,999 spent in transactions within the month
* Payments made by credit cards linked with a LINE Pay account will now be included in the badge level determination criteria and will also be eligible to receive Points.
* The user's badge level is determined based on the aggregate monthly results (ending on the final day of the preceding month), and will be updated at 10am on the first day of each month.
* The transaction volume limit eligible to receive Points has been increased to JPY 1,000,000 per month.
Limited Time Campaign (from August 1, 2018 through July 31, 2019)
* Users will receive an additional 3% in Points on top of the Point award rate for their level when they make a QR/barcode payment (up to the Point transaction eligibility limit of JPY 1,000,000/month).
Under LINE's corporate mission of Closing the Distance, LINE Pay strives to eliminate the many inconveniences of cash transactions including time, effort, and fees, to bring people, their money, and services closer together. 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 Corporation Overview (as of May 11, 2018)
Company Name: LINE Pay Corporation
Location of 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
Primary Business:
- 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 Official Account: @linepay_jp (Japanese only)
LINE Pay Corporation has become a registered member of the following organizations in association with the launch of its business:
- Issuers of Prepaid Payment Instruments for Third-Party Business (Registration number: Kanto Director General 00669, Registration date: October 1, 2014)
- Funds Transfer Service Providers (Registration number: Kanto Director General 00036, Registration date: October 1, 2014)