TAIPEI (TVBS News) — Smart Wallet Service LINE Pay announced on Friday (Jan. 10) that its 2024 annual revenue reached NT$6.296 billion, a 31.76% year-over-year increase and a new record. December's consolidated revenue hit NT$617 million, a monthly rise of 4.22% and an annual increase of 40.7%, achieving the highest single-month performance in its history.
In December, LINE Pay attributed a significant rise in transaction volume to a surge in demand for warm clothing, which grew by 45% weekly. Additionally, the pet market showed impressive growth, with transactions increasing by 20% weekly as consumers purchased new pet outfits. The end-of-year demand for gatherings and gifts also spurred notable growth in department stores, outlets, and restaurants, with overall weekly transactions climbing more than 20%.
Looking ahead to 2025, LINE Pay plans to actively develop its third-party payment business and boost revenue from point reward cards and advertising marketing platforms. The company aims to enhance its cross-border market presence by leveraging artificial intelligence technology to expand precise marketing data resources on its advertising platform.
With these strategic initiatives, LINE Pay is poised to capitalize on the growing demand for digital payment solutions and maintain its upward trajectory in the rapidly evolving fintech landscape.