To become a leader in online payments in Japan, messaging app company LINE Corporation has announced the acquisition of Japan-based online payment startup WebPay for an undisclosed amount.
LINE had already rolled out its LINE Pay services in its app to make in-app purchases of stickers etc., however now it wants to expand its services for other companies as well. As part of the deal, now WebPay will promote the further business expansion of ‘LINE Pay’ and also continue to continue platform foundation of Line to be more robust. Now, Web Pay became a wholly owned subsidiary of LINE Pay Corporation.
WebPay was founded in March 2010 by Hiro Fukami, it provides credit card payment platform for developers who work with e-commerce sites, online services or mobile applications. The firm had raised $1.1 million in seed round and $240,000 in angel funding.
LINE pay does offer payments support for shops which open on LINE Mall, but this acquisition providing the company better staff which familiar with the challenges of adding shops as users.Category Business Investments