LINE MAN Wongnai Becomes Majority Shareholder of Rabbit LINE Pay Company

Rabbit LINE Pay Company Limited (RLP) shares are acquired by LINE MAN Wongnai and LINE Company (Thailand) Limited from previous shareholders RabbitPay System Company Limited and Advanced mPAY Company Limited. The transaction allows LINE MAN Wongnai to become the majority shareholder of RLP, according to a statement issued by the duo on August 31.

Yod Chinsupakul, Chief Executive Officer of LINE MAN Wongnai, and In Young Chung, Chief Financial Officer of LINE MAN Wongnai, will become the new Chief Executive Officer and Chief Financial Officer of RLP, respectively.

This acquisition aims to bring RLP payment services closer to the LINE ecosystem, which includes LINE MAN, LINE SHOPPING, LINE App, and Wongnai's merchant network.

The new ownership structure will speed up RLP innovation and create a more seamless experience across LINE MAN Wongnai's services and the broader LINE ecosystem. This change in ownership structure will have no effect on RLP users.

RLP users can continue to use RLP payment services through existing channels such as the BTS Skytrain ticketing system and AIS's bill payment services.

"RLP has a long presence among Thai e-payment users, covering a wide range of online and offline payment channels," said Yod Chinsupakul, Chief Executive Officer of LINE MAN Wongnai. "As user behaviours towards e-payment and overall fintech are transforming at a rapid pace, it's an exciting time to reframe the role of RLP under the new shareholders."