Line Man Wongnai — an e-commerce platform for food delivery, grocery delivery, taxi, messenger, restaurant reviews, and restaurant solutions in Thailand, and Line Company (Thailand), have jointly acquired the majority shares of Rabbit Line Pay Company (RLP) from previous shareholders RabbitPay System Company Limited and Advanced mPAY Company Limited.
The details of the deal remain undisclosed.
The acquisition aims to bring RLP payment services closer to the Line ecosystem, including Line Man, Line Shopping, Line app, and Wongnai’s merchant network.
As per the agreement, Line Man Wongnai CEO Yod Chinsupakul and CFO In Young Chung will become the new CEO and CFO of RLP, respectively.
The merger will not impact RLP users, and they can keep using its payment services in existing channels, including the BTS Skytrain ticketing system and AIS’s bill payment services.
Also Read: Line Man Wongnai secures US$265M in Series B round, enters unicorn club
Chinsupakul stated, “RLP has a long presence among Thai e-payment users, covering a wide range of online and offline payment channels. As user’s behaviours toward e-payment and overall fintech are transforming quickly, it’s an exciting time to reframe the role of RLP under the new shareholders. We want to use our strength of over 10 million Line Man and Wongnai users, over 500,000 merchants, and over 100,000 riders to create a coherent transaction experience for all stakeholders. With the addition of RLP, we believe Line Man Wongnai is uniquely positioned to help digitalises the Thai economy.”
Rabbit LINE Pay (RLP) is an integrated online and offline payment platform. RLP offers payment services, including a digital wallet and quick, on-the-go payment options for purchases, money transfers, or top-ups. RLP services can be utilised within public transportation, for purchasing goods and services from partner brands, and for various utility bill payments.
Line Man Wongnai combines an e-commerce platform for food delivery, grocery delivery, taxi, messenger, local business reviews and restaurant solutions. It became a unicorn following its US$265 million Series B funding led by GIC and Line in September last year. Line Man Wongnai employs more than 1,000 people.
Established in 2014, Line Thailand manages local sales and marketing strategies and develops new businesses and services for Thai markets.
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Image Credit: LINE MAN Wongnai.
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