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LINE Pay Enters the Fray

The now ubiquitous Japanese messaging app LINE has unveiled it’s “LINE Pay” service in June, and announced that it would be expanding its financial services. LINE is partnering with megabank Mizuho to offer banking services: LINE will own 51% of the bank and Mizuho will own the other 49%. Additionally, it was announced that LINE Pay services will now work cooperatively with Chinese financial giant Tencent’s WeChat Pay.