Boku Inc, a mobile identity and payment solutions provider, has recently announced that it made a partnership with the QR code payment and eWallet service provider of Japan, LINE Pay.
A Large Push For Cashless Culture
With this partnership, over 37 million of Japan’s LINE Pay users will be capable of paying for merchant digital goods and services. They will do this from the convenience of the Boku platform itself.
Hisahiro Chofuku stands as the President and CEO of LINE Pay, and gave a comment about the matter at large. Chofuku stated that Japan’s long-standing cash society is being pushed towards a cashless one, with both the private and the public sectors of the country enacting the push itself. Through joining forces with Boku, Chofuku stated that LINE Pay is aiming to expand its services even more, and thus aims to do its part in the shift to a cashless Japan.
It was earlier in June, this year, that Boku had made a previous partnership. This partnership, in particular, was with PayPay, an aptly named QR code payment and eWallet service provider in Japan. With this partnership, Boku merchants were made capable of offering the PayPay payment service through their existing connections. This, in turn, reinforces the commitment of Boku to enable its merchants to acquire new users eager to pay for their services. They did so by providing these customers with a simplified access to the best local payment options it has available to it.
The Boku and PayPay partnership was done to offer Japanese consumers a “card-like” experience for the PayPay eWallet. Users of PayPay were capable of placing their eWallets “on-file,” which enabled Game Console and Appstore, as well as digital OTT subscription services. Through doing so, they managed to leverage functionalities that were typically associated with cards, as well.
A New Dawn
Japan has always been a hub for innovations, and it’s good to see the nation make a hard push for a new, cashless society. With any luck, this partnership will bring much joy to the consumers that use it, and Japan, as a nation, can continue to innovate.
As it stands now, China has been pushing hard to develop and integrate a cashless DC/EP system, one that is still further ahead than their European counterparts, let alone the US, who has so far dragged its feet in the development of a CBDC.