‘Cashless’ payment service introduced
RABBIT LINE Pay, a newly launched payment service via the Line mobile application, is seen as a move towards a “cashless society” in the digital-economy era.
The service, which is a mix of both online and offline payment platforms, can be used to pay for products and services at shops and restaurants such as McDonald’s, Tesco Lotus and Big C as well as online shops such as Lazada and Ensogo.
The new service emerged after a 50:50 partnership was signed yesterday between BSS Holdings Co, operator of the Rabbit smart card, and Line Biz Plus, the operator of Line Pay.
Under the agreement, BSS Holdings will acquire 50 per cent of capital-increased shares of Line Biz Plus, and the “Line Pay” service is now renamed “Rabbit Line Pay”.
“We believe our joint venture will help make cashless payments more of a norm in Thailand,” said Lee Jin Woo, country manager of Line Biz Plus.
He said the service would first be available at partnering shops, possibly in the third quarter, and would go full scale in the capital in the fourth quarter.
Rabbit is an offline payment card that cardholders can use to pay for fares on the BTS Skytrain and for products at more than 250 shops and restaurants. So far, more than 5 million Rabbit cards have been issued and there are more than 4,000 Rabbit card-receiving machines across Bangkok and its surrounding areas.
“This venture will help Rabbit expand its customer base to include the 33 million Line users, and also expand into provincial areas,” said Nelson Leung, chief executive officer of BBS Holdings Co.
