LINE Pay 2026年3月法人說明會

Company Overview

• 公司名稱 (Company Name): 連加網路商業股份有限公司 (LINE Pay)
• 設立年度 (Establishment Year): 2015年
• 實收資本額 (Paid-in Capital): 6億8千萬 (NT$680 million)
• 員工數 (Number of Employees): 約470人
• 主要營業項目 (Main Business Scope): 第三方支付服務業 (Third-party payment services)
• 股權結構 (Shareholding Structure) (資料統計至2026年2月底 - Data as of end of Feb 2026):
  • LY Corporation (100%)
    • -> LINE Financial Corporation (58.10%)
      • -> LINE Pay (100%)
        • -> LINE Pay Plus Corporation
        • -> 連加電子支付股份有限公司
      • -> 台北富邦商業銀行股份有限公司 (17.22%)
      • -> 聯邦商業銀行股份有限公司 (8.61%)

Financial Highlights

• 營業收入 (Operating Revenue) (單位:億 - Unit: NT$100 million):
  • 2023: 49.3
  • 2024: 63.0 (YoY 28%▲)
  • 2025: 78.7 (YoY 25%▲)
  • 2026 (截至2月 - As of Feb): 14.0
• 營業淨利 (Operating Net Profit) (單位:億 - Unit: NT$100 million):
  • 2023: 5.5 (淨利率 - Net Profit Margin: 11.2%)
  • 2024: 7.4 (淨利率 - Net Profit Margin: 11.8%)
  • 2025: 5.9 (淨利率 - Net Profit Margin: 7.5%)
• 資產負債表概覽 (Balance Sheet Overview) (單位:新台幣仟元 - Unit: NT$ Thousand):
  • 現金餘額 (Cash Balance): 96億 (NT$9.6 billion)
    • 流動比率 223%,資金結構穩健,具備支應業務成長與策略投資之財務彈性。(Current ratio 223%, stable capital structure, with financial flexibility to support business growth and strategic investments.)
  • 信託資產餘額 (Trust Asset Balance): 62億 (NT$6.2 billion)
    • 反映用戶與合作商戶交易規模持續成長,平台金流規模維持市場領先水準。(Reflects continuous growth in user and partner transaction volume, maintaining market-leading platform cash flow scale.)
  • LINE POINTS 流通在外餘額 (LINE POINTS Outstanding Balance): 26億 (NT$2.6 billion)
    • 使用者活躍度提升,2025年點數年度使用率達97%,有效促進交易循環與平台黏著度。(Increased user activity, 2025 annual points usage rate reached 97%, effectively promoting transaction cycles and platform stickiness.)
  • 股東權益總額 (Total Shareholders' Equity): 108億 (NT$10.8 billion)
    • 2025 年預計配發現金股利每股 1.5元、股票股利每股 0.5元,穩健獲利支持長期資本結構優化,提升市場流動性與資本彈性。(Expected to distribute cash dividend of NT$1.5 per share and stock dividend of NT$0.5 per share in 2025. Stable profitability supports long-term capital structure optimization, enhancing market liquidity and capital flexibility.)

Business Segments

• LINE Pay 事業版圖 (LINE Pay Business Landscape):
  • B2B2C:
    • 支付事業 (Payment Business): 提供第三方支付與電子支付服務,涵蓋帳戶儲值、轉帳、生活繳費等功能,並為商店打造完整的代理收付實質款項交易服務。(Provides safe and convenient payment services, covering account top-up, transfers, bill payments, and builds complete agency collection and payment transaction services for merchants.)
    • 電子商務事業 (E-commerce Business):
      • 聯名卡 (Co-branded cards) / 點數回饋卡 (Points reward cards): 與銀行合作發行 LINE POINTS 點數回饋卡,並為合作銀行提供各式金融推廣服務。(Collaborates with banks to issue LINE POINTS reward cards and provides various financial promotion services for partner banks.)
      • 票券發行與銷售 (Voucher issuance and sales): 為商店發行、販售票券,促進產品曝光,進而提升交易量,並為用戶提供多樣化的優惠商品選擇。(Issues and sells vouchers for merchants, promotes product exposure, increases transaction volume, and offers diverse promotional products to users.)
  • B2B:
    • 金融產業合作 (Financial Industry Cooperation): 透過 LINE Pay 金融平台,協助金融機構曝光金融商品,同時滿足用戶對信用卡/保險/貸款等資訊的需求。(Through the LINE Pay financial platform, assists financial institutions in exposing financial products, while meeting users' needs for credit card/insurance/loan information.)
    • 廣告事業 (Advertising Business): 提供數位廣告解決方案,並運用 AI 技術實現精準行銷,助力商店觸及目標客群。(Provides digital advertising solutions, utilizes AI technology for precise marketing, helping merchants reach target audiences.)

Recent Performance and Results

• 經營績效 (Operating Performance) (截至2025年底 - As of end of 2025):
  • 交易量 (Transaction Volume): 超過 8,680 億 (NT$868 billion)
    • 較 2021年成長超過2倍,展現強勁成長動能。(More than doubled since 2021, demonstrating strong growth momentum.)
  • 用戶數 (User Count): 超過 1,360 萬 (13.6 million)
    • 以台灣人口數 2,328 萬人計算,平均每2人就有一人是 LINE Pay 用戶。(Based on Taiwan's population of 23.28 million, on average one in two people is a LINE Pay user.)
  • 用戶綁卡數 (User Linked Cards): 超過 2,100 萬 (21 million)
    • 占市場總流通卡數逾1/3。(Accounts for over 1/3 of total cards in circulation in the market.)
  • 全球支付據點 (Global Payment Locations): 超過 74 萬 (740,000)
    • 全台支付據點超過 66 萬,韓國支付據點超過 8 萬。(Over 660,000 payment locations in Taiwan, over 80,000 payment locations in Korea.)
• 電子支付事業成果 (E-payment Business Results) (服務上線僅兩個月,相較於用戶規模仍在擴張階段 - Service launched only two months ago, user base still in expansion phase) (資料統計至2026年1月底 - Data as of end of Jan 2026):
  • 用戶數 (User Count): 超過 298 萬 (2.98 million)
    • 突破100萬用戶僅花費3天,為最快突破百萬用戶之支付業者。(Reached over 1 million users in just 3 days, making it the fastest payment provider to reach this milestone.)
  • 單月交易量 (Monthly Transaction Volume): 48億↑ (NT$4.8 billion↑)
  • 支付款項餘額 (Payment Account Balance): 42億↑ (NT$4.2 billion↑)
  • 單月轉帳金額 (Monthly Transfer Volume): 70億↑ (NT$7 billion↑)
  • 單月儲值金額 (Monthly Top-up Volume): 97億↑ (NT$9.7 billion↑)
    • 轉帳、儲值金額已居全台支付業者之冠。(Transfer and top-up volumes lead all payment providers in Taiwan.)

Outlook & Strategy

• 2026 成長目標 (2026 Growth Targets):
  • 整體策略 (Overall Strategy): 持續提升交易量、擴大用戶數與支付據點數,推升營業收入成長。(Continuously increase transaction volume, expand user base and payment locations, driving operating revenue growth.)
  • 交易量 (Transaction Volume):
    • 2025: 8,680 億 (NT$868 billion) (15%▲)
    • 2026 目標 (Target): 10,100 億 (NT$1,010 billion) (16%▲)
  • 用戶數 (User Count):
    • 2025: 1,360 萬 (13.6 million) (5%▲)
    • 2026 目標 (Target): 1,460 萬 (14.6 million) (7%▲)
  • 支付據點數 (Payment Locations):
    • 2025: 66 萬 (660,000) (12%▲)
    • 2026 目標 (Target): 74 萬 (740,000) (12%▲)
• 成長動能 (Growth Drivers):
  • 核心 (Core): 創新支付技術 (Innovative Payment Technology)
  • 驅動因素 (Driving Factors):
    • 全生活場景之高滲透率 (High penetration rate in all lifestyle scenarios)
    • 多元行銷創造優質回饋 (Diverse marketing creating quality rewards)
    • 高黏著度驅動消費頻次 (High stickiness driving consumption frequency)
    • 持續壯大之點數生態圈 (Continuously expanding points ecosystem)
    • 數據賦能擴展金融平台 (Data empowerment expanding financial platform)
    • 落實內容驅動支付策略 (Implementing content-driven payment strategy)
• 全球市場多元布局 (Diversified Global Market Layout):
  • 整體目標 (Overall Goal): 串連全球支付與行銷應用場景,打造全球支付行銷生態圈。(Connecting global payment and marketing application scenarios, building a global payment and marketing ecosystem.)
  • 深化韓國市場 (Deepening Korean Market): 持續與台灣旅客常造訪之指標品牌深度合作,發展內容平台,拓展韓國市場。(Continuously deepens cooperation with key brands frequently visited by Taiwanese tourists, develops content platforms, and expands the Korean market.)
    • 截至2025年底 (As of end of 2025): 交易額近 15 億,交易用戶數超過 30 萬,交易筆數超過 80 萬。(Transaction value nearly NT$1.5 billion, transacting user count over 300,000, transaction count over 800,000.)
    • 合作夥伴/據點 (Partners/Locations): CU, innisfree, THE SHILLA duty free, LOTTE MART (超過8萬處海外支付據點 - Over 80,000 overseas payment locations).
  • 前進日本市場 (Advancing into Japanese Market): 透過各種投資與合作,將 LINE Pay 支付據點拓展至國人最喜愛的日本市場。(Through various investments and collaborations, expands LINE Pay payment locations to the Japanese market, a favorite among Taiwanese.)
  • 開創新加玻及香港市場 (Opening up Singapore and Hong Kong Markets): 讓台灣遊客在海外也能使用熟悉又便利的服務消費,享受無縫接軌的海外支付體驗。(Allows Taiwanese tourists to use familiar and convenient payment services overseas, enjoying a seamless cross-border payment experience.)
    • 瞄準主要消費場域 (Targeting Key Consumption Scenarios): 透過與在地業者合作,將 LINE Pay 支付據點拓展至台灣旅客常造訪之藥妝店、便利商店、免稅店、咖啡廳等熱門消費場景。(Through cooperation with local businesses, expands LINE Pay payment locations to popular consumption scenarios frequently visited by Taiwanese tourists, such as drugstores, convenience stores, duty-free shops, and cafes.)
    • 深化內容平台 (Deepening Content Platform): 將商店特色轉化為內容,讓用戶在海外旅遊前可更方便規劃行程,旅途中也能輕鬆享受優惠與便利支付體驗。(Transforms store features into content, allowing users to plan itineraries more conveniently before overseas travel, and enjoy discounts and convenient payment experiences during their trip.)

Products & Technologies

• LINE Pay (核心支付平台 - Core Payment Platform)
• LINE Pay Money (電子支付帳戶 - E-payment Account)
• AI 升級好夥伴 App (AI-Upgraded Partner App):
  • 功能 (Functions): 整合交易數據分析、智慧行銷與語音摘要功能。(Integrates transaction data analysis, smart marketing, and voice summary functions.)
  • 目的 (Purpose): 協助店主輕鬆掌握經營狀況並提升收益。(Helps store owners easily grasp operating conditions and increase revenue.)
• 好康地圖 2.0 (Deals Map 2.0):
  • 技術 (Technology): 透過 AR 實景地圖。(Through AR augmented reality map.)
  • 目的 (Purpose): 連結資訊與真實世界,讓商店與優惠資訊呈現更直覺。(Links information with the real world, making store and discount information more intuitive.)
• 互動式廣告平台 (Interactive Advertising Platform):
  • 功能 (Functions): 將廣告化為遊戲體驗,透過獎勵機制提升用戶參與。(Transforms advertising into a gaming experience, increasing user engagement through reward mechanisms.)
  • 目的 (Purpose): 同時協助商店推廣品牌及商品。(Helps stores promote brands and products.)
• 國內支付業務整合 (Domestic Payment Business Integration):
  • 交通 (Transportation): 高雄捷運, 台北捷運, 台北公車, 桃園捷運, 新北捷運, 台中捷運, 高鐵, 台鐵。
  • 生活繳費 (Bill Payments): 水電費, 瓦斯費, 電信費, 健保費, 信用卡費, 社區管理費, 停車費, 稅金。
  • 電商 (E-commerce): momo, PChome, 91APP, 博客來, Coupang, Uber Eats。
  • 餐飲 (Dining): 麥當勞, 星巴克, 春水堂, 八方雲集, 輕井澤, 瓦城。
  • 商圈/夜市/市場 (Commercial Districts/Night Markets/Traditional Markets): 士東市場, 中山商圈, 逢甲夜市, 一中商圈。
  • 便利商店 (Convenience Stores): 7-ELEVEN, 全家, 萊爾富, OK 超商。
  • 平台服務 (Platform Services): 好康地圖, 購好券, 找體驗, 愛心捐款, 內容平台。
  • 錢包服務 (Wallet Services): 支付, 儲值, 提領, 轉帳, 分帳, 紅包。
  • 美妝/生活雜貨 (Beauty/Lifestyle Goods): 屈臣氏, 康是美, 寶雅, 大創, 小北百貨, 無印良品。
  • 百貨商場 (Department Stores): 新光三越, 遠東百貨, 微風集團, 誠品生活。
  • 旅遊 (Travel): 中華航空, 星宇航空, Klook, 雄獅旅遊。

Additional Data

• 免責聲明 (Disclaimer):
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  • 本簡報可能包含前瞻性陳述,該等陳述係基於本公司對未來營運之假設,及種種本公司無法控制之政治、經濟、市場等因素所作成,故不代表本公司、產業狀況或後續重大發展的完整論述,實際經營結果亦可能與該等陳述有重大差異。
  • 本公司及其關係企業之負責人及員工均不對本簡報及其相關之書面或口頭資料,或因信賴或使用本簡報之內容所生的任何直接或間接損害負擔責任。
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• 收入佔比 (Revenue Mix):
  • 手續費收入事業 (Transaction Fee Revenue Business): 82%
  • 金融推廣合作事業 (Financial Promotion Cooperation Business): 14%
  • 系統管理服務事業 (System Management Service Business): 2%
  • 行銷產品銷售事業 (Marketing Product Sales Business): 2%
• 成本分析 (Cost Analysis):
  • 手續費成本 (Transaction Fee Cost): 90%
  • 系統管理服務成本 (System Management Service Cost): 9%
  • 其他 (Other): 1%
• 費用分析 (Expense Analysis):
  • EPI 初期建置及營運相關費用 (EPI Initial Setup and Operating Related Expenses): 28%
  • 行銷費用 (Marketing Expenses): 27%
  • 用人費用 (Personnel Expenses): 21%
  • 外包費用 (Outsourcing Expenses): 12%
  • 通訊費用/折舊費用 (Communication Expenses/Depreciation Expenses): 9%
  • 其他 (Other): 3%