Line Pay Taiwan Ltd (連加網路商業) yesterday reported that the number of transactions and the total value of transactions each rose 70 percent year-on-year to 160 million and NT$74.6 billion (US$2.47 billion) respectively in the first half of this year.
The number of transactions included those from the company’s mobile payment product Line Pay, which links customers’ credit cards with the electronic payment service, and its iPass Money service, which connects with customers’ bank accounts.
Line Pay did not disclose a breakdown of the transactions differentiating the two products, both of which can be accessed through the messaging app of its affiliate Line
The 4.55 million users of iPass Money the nation’s second-largest electronic payment service, which was previously called Line Pay Money found the service more inconvenient to use after iPass Corp (一卡通票證) and Line Pay Taiwan (連加網路商業) separated.
The service was initially a collaboration of the two companies, but it has been solely operated by iPass since Line Pay sold its stake in the service and walked out of the iPass boardroom in November last year, data from the companies showed.
However, iPass, a Kaohsiung-based stored-value card company, does not have an independent payment app for users, so the users
More businesses using contactless payment methods
By Kao Shih-ching / Staff reporter
More small merchants, stores and vendors have adopted contactless payment methods amid rising domestic COVID-19 infections.
“The number of stores that have asked about our service and were interested in using our electronic payment tool has risen more than 40 percent since the COVID-19 alert was raised to level 3 nationwide last week,” Line Pay Taiwan Ltd (連加網路商業) said in a statement yesterday.
Line Pay Taiwan said that most of them are small or medium-sized stores or online merchants, which are generally more hesitant about accepting virtual payments than larger stores.
A convenience store worker scans a QR code on a customer’s phone to complete a transaction in Taipei on Nov. 6, 2019. More small merchants, stores and vendors have adopted contactless payment methods amid rising domestic COVID-19 infections, companies said yesterday.