Line Yahoo, which received administrative guidance from the Japanese government to reconsider its relationship with Naver, will end its simple payment service ‘Line Pay’ in Japan.
Line Yahoo announced today (the 13th) that it will gradually discontinue the mobile remittance and payment service Line Pay in Japan by April 30 next year, stating that Line Pay in Thailand and Taiwan will continue.
Line Pay will be integrated into ‘PayPay,’ a simple payment service operated by SoftBank, Line Yahoo’s major shareholder in Japan.
Line Yahoo explained that they have been working on consolidating their financial resources by centralizing overlapping business areas within the group to expand synergies, focusing on the selection and concentration of management resources in the financial sector.
They added that after reviewing the optimal allocation of management resources, they decided to centralize the remittance and payment services in Japan under PayPay and terminate the Line Pay service.
However, considering the recent administrative guidance from the Japanese government to reorganize the relationship with Naver, it seems that the restructuring from a group perspective led by SoftBank is also a factor in the decision.
Line Pay started its service in Japan in December 2014 through the payment function of the Line app, and as of the end of last month, it had about 44 million registered users.
PayPay, created through a joint venture between SoftBank and Yahoo Japan, started its service later in October 2018 than Line Pay, but it has more registered users recently, with about 64 million users compared to Line Pay.
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