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Line buys Japanese payments startup WebPay for undisclosed amount

Tokyo-based smartphone messaging application Line, which
reportedly has 181 million monthly active users globally, has reportedly acquired Japanese startup WebPay in an undisclosed acquisition deal, reports TechCrunch According to the report, Line will use WebPay to “further solidify the pace of growth of the Line Pay business.”

Tokyo-based smartphone messaging application Line, which
reportedly has 181 million monthly active users globally, has reportedly acquired Japanese startup WebPay in an undisclosed acquisition deal, reports TechCrunch According to the report, Line will use WebPay to “further solidify the pace of growth of the Line Pay business.”

The company has announced that it has reached a definitive agreement to acquire WebPay Holdings through its subsidiary, LINE Pay Corporation. 

WebPay Holdings offers the “WebPay” credit card payment platform 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, secure payment system that does not process, transfer and store card data at member stores. 

At a conference 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. 

In the last six months, Line has spent money to buy MixRadio from Microsoft, took a stake in Japanese game maker Gumi, and invested in South Korea’s 4:33 Creative Lab Games Studio. In January, Line had also tied up with FreeCharge to offer its users in India up to 200% extra talktime.

In another development, the company has recently announced that
it was recipient of “The 2015 Crunchies Award for Best International Startup”
at the 8th Annual Crunchies Awards Ceremony organized by Tech Crunch and VentureBeat.

Line was nominated
for Best International Startup from among 20 categories, beating out other
nominated favorites like Kik, Spotify, Citymapper, EyeEm and more for the title
of “The 2015 Crunchies Award for Best International Startup.”

 

 

 

 

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