In brief: Line and Mercari form Japan payments pact

• Messaging platform Line and online marketplace Mercari are joining forces on mobile payments as Japan’s internet companies race to dominate cashless transactions in the world’s third-largest economy.
• Line and Mercari will let users shop and pay for purchases at stores that accept each other’s systems, starting early this summer.
• The two companies’ payments operations will remain separate, and they will continue with their own marketing, customer service, and fee collection from stores. Mercari’s Merpay is accepted at 1.35 million locations across Japan, while Line Pay is available at 1.33 million outlets.

Source: Bloomberg