Line has announced its strategic partnership with CyberSource in order to improve its position in the mobile commerce space
Line, an Internet services and mobile application company based in Japan, has announced that it has formed a strategic partnership with CyberSource, a subsidiary of Visa. CyberSource specializes in payment management and fraud prevention services. The partnership is expected to improve Line’s new mobile payments platform, called Line Pay, and expand the reach of CyberSource’s technology. Together, the two companies may have a major impact on the mobile payments space.
Partnership will provide Line with access to new technology that will be incorporated into Line Pay
Through this partnership, Line will be able to leverage the technology and services developed by CyberSource. This technology will be integrated into Line Pay, which is expected to become more secure and efficient as a result of the partnership. Line Pay will be making use of the global payment gateway that has been designed by CyberSource, which will allow the platform to process payments issues from numerous card brands.
Line continues to find success by engaging mobile consumers in new ways
Line had initially been involved in the business of mobile messaging. The company launched its messaging application in 2011 and has since grown to have a presence in 230 countries around the world. The Line mobile messaging service boasts of more than 180 million monthly active users, which gives it significant reach and sway among consumers. This broad reach encouraged Line to break into mobile payments, where it is beginning to find significant success among those that already use its mobile messaging application.
Partnership will bring more security to the mobile payments space and protect consumer financial information
The partnership between Line and CyberSource is expected to make mobile payments more secure, as well. Line will gain access to CyberSource’s fraud management services, which will help cut down on the number of fraudulent transactions that are processed through Line Pay. The financial information from consumers will also be stored on CyberSource’s secure servers, making it less likely to be stolen and exploited by malicious parties.