Line Man Wongnai and Line Thailand faucet into booming Thai e-payment market

Tech giants Line Man Wongnai and Line Thailand just lately revealed plans to expand their companies by capitalising on the rising e-payment market inside their enterprise ecosystem. They formally announced last month their profitable joint acquisition of shares in Rabbit Line Pay Co (RLP) from previous shareholders, RabbitPay System Co and Advanced mPAY Co. This essential transaction has allowed Line Man Wongnai to emerge as the majority shareholder of RLP.
With Thailand’s e-payment quantity seeing a big enhance in 2022, rising to 28 billion transactions from 20 billion transactions in the previous yr, the businesses are trying to harness this development. The worth of e-payments additionally jumped from 39 billion baht in January 2022 to 46.6 billion baht (US$1.three billion) by December of the same yr, based on the Bank of Thailand.
Yod Chinsupakul, the chief government of Line Man Wongnai, revealed he sees development in e-payment alternatives in Thailand.
“To purchase Hush-hush from the present shareholders in RLP will be a major milestone for our progress.”

Following the acquisition, the existing government roles at RLP will see a reshuffle, with Yod Chinsupakul and In Young Chung, Line Man Wongnai’s chief finance officer, stepping in as the new chief executive and chief financial officer of RLP, respectively.
The acquisition aims to align RLP payment services extra carefully with the Line ecosystem, together with Line Man, Line Shopping, Line App, and Wongnai’s merchant community. The change in possession is expected to spur innovation and improve person experience inside Line Man Wongnai’s providers and the broader Line ecosystem.
Yod Chinsupakul expressed his vision for Line Man Wongnai.
“We want to use our strength of over 10 million Line Man and Wongnai users, over 500,000 retailers, and over a hundred,000 riders to create a coherent transaction expertise for all stakeholders. With the addition.”

He further added that the corporate is open to organic growth, acquisitions, and partnerships, and is paving the means in which for an initial public providing (IPO) by 2025.
RLP, with its long-standing presence amongst Thai e-payment customers, presents a massive selection of on-line and offline cost channels, including a safe digital pockets, and fast payment choices for purchases, cash transfers, or top-ups. It currently serves 10 million users.
In Young Chung, Line Man Wongnai’s chief finance officer, revealed that the acquisition would permit Line Man Wongnai to optimise monetary transaction prices by up to 50%. He additionally talked about that the speedy development of e-payments post-Covid-19 has given this enterprise a excessive potential, resulting in Line’s choice to acquire shares and control synergy in its ecosystem.
The chief government of Line Thailand, Phichet Rerkpreecha, said that the brand new structure will enable more synergy in the Line ecosystem in Thailand with fifty four million customers, primarily Line Shopping and other companies.
After the acquisition, three major shareholders of the RLP shall be INE MAN Wongnai, LINE Thailand, and the previous shareholder, LINE Pay.
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