Separately, Line said Japanese retailers offering Line Pay services will be able to process payments from Chinese tourists using Tencent’s WeChat Pay beginning early next year. The moves come as Line seeks alternative revenue streams to offset stagnating user numbers for its eponymous flagship app, expanding into areas such as payments, stock broking, insurance and cryptocurrencies. “We expect financial services to start contributing to profit in the medium term,” Line Chief Executive Takeshi Idezawa said at a strategy briefing cartier cufflinks replica uk sale. “We are making big investments in fintech and AI,” he said, referring to financial technology and artificial intelligence..
Japan’s tech firms are increasingly looking for growth by offering financial services to their existing user base cartier cufflinks replica uk sale. The trend has also been seen at retailers in recent years, with convenience store operator Lawson Inc (2651.T) entering the banking sector just last month. For traditional lenders such as Mizuho, hamstrung by years of low interest rates, tie-ups with tech firms offer an opportunity to attract younger, tech-savvy customers. “It will give us a point of contact with a young generation, which we megabanks are not good at reaching,” said Mizuho’s head of retail banking, Toshitsugu Okabe..
Mizuho joins another of Japan’s financial giants, Nomura Holdings Inc (8604.T), in teaming up with Line. In May, the country’s biggest brokerage and investment banking group said it would set up an internet-focused securities brokerage with Line. News of the tie-ups on Tuesday lifted Line shares to close up 13 percent, adding about $1 billion to the firm’s market value. The stock is still down more than 16 percent this year cartier cufflinks replica uk sale. Mizuho and Tencent’s shares were flat. GRAPHIC: Thin green Line – tmsnrt.rs/2RhbLld..
With its growing number of Chinese tourists, Japan is increasingly attractive for China’s tech titans, with Alibaba Group Holding Ltd (BABA.N) affiliate Ant Financial and ride-hailing firm Didi Chuxing announcing services in recent months. Both Alibaba and Didi Chuxing are portfolio companies of Japan’s SoftBank Group Corp (9984.T) cartier cufflinks replica uk sale. Japan has been slow to move to cashless payments, with a rush of entrants such as Line Pay and SoftBank-backed PayPay encouraging consumers to use QR code-based payments, which have become widespread in China, India and elsewhere..
(Reuters) – British and Dutch regulators on Tuesday fined ride-hailing service Uber [UBER.UL] for failing to protect customers’ personal information during a 2016 cyber attack involving millions of users. Names, mobile phone numbers and email addresses were compromised in the breach, which involved 57 million users worldwide. That included 2.7 million user accounts in Britain, representing the vast majority of people using the ride-hailing service in the country. The Information Commissioner’s Office (ICO) in Britain fined the company 385,000 pounds ($490,760) while the Dutch Data Protection Authority (DPA) imposed 600,000 euro ($678,780) fine cartier cufflinks replica uk sale.