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LINE launches social banking platform in Thailand

Customers can use it to transfer money, apply for loans, and pay through the LINE app.

Line Corporation has launched LINE BK in Thailand, allowing customers to access financial services through the LINE app, according to a press release.

LINE BK lets customers transfer money, open savings accounts, apply for loans, and make payments easily.

It is operated by KASIKORN LINE, a joint venture between LINE Financial Asia and KASIKORN Vision Company, a subsidiary of KASIKORN BANK.

LINE BK is operated by KASIKORN LINE, a joint venture between LINE subsidiary LINE Financial Asia and KASIKORN Vision Company Ltd., a subsidiary of Thailand’s KASIKORNBANK.

Customers can access the app under the wallet tab in the LINE app in Thailand. Customers can open as many as five savings accounts, and apply for a debit card, without having to install any additional apps. Its savings account offers interest rates of up to 1.5% per year, and customers can choose between 6-month and 12-month terms.

Users will also receive 0.5% credit cashback from online purchases made using LINE BK’s Debit Card by VISA (minimum 100 baht spending).

LINE shared that it plans to expand banking services into other countries, including Japan, Taiwan, and Indonesia. 

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