Global financial services provider Wirecard has announced a new collaboration with Rakuten Viber to launch a new money transfer service for users of Viber, the secure instant messaging app.
The new collaboration also incorporates Viber’s partner NeoPay plus Libra Internet Bank will act as the local acquirer for the money transfer product.
Dubbed Moneytou, the solution is powered by Mastercard and enables users to send money via the messaging app, which boasts over one billion users worldwide.
“Rakuten Viber messaging is extremely popular, with the service now boasting over one billion registered users worldwide,” explained Utku Ogrendil, regional managing director, Wirecard.
“For some time, users have used the app to share photos and videos. The ability to also share funds was the next logical step and we are proud to be one of the launch partners for this new service.
“Whether wanting to split a restaurant bill, collect money for a joint wedding gift or giving a child their pocket money, it can be done by just a few clicks.”
Wirecard will process any peer-to-peer (P2P) transactions made with payment cards linked to the Moneytou service.
After the upcoming launch in Hungary, the service is expected to be rolled out “quickly” across other Eastern European markets with a 25 million user target in place for the first phase.
“Our mission has always been to bring valuable solutions to users. We’re happy to announce the launch of Moneytou – coming soon in collaboration with companies such as Mastercard, NeoPay and Wirecard,” commented Cristina Constandache, chief revenue officer, Rakuten Viber.
“By using Wirecard’s card processing expertise and technical support, we will be able to ensure a smooth, hassle-free experience for users wanting to instantly transfer funds to friends and family via Viber. We are excited to roll this out to a larger list of markets by the end of the year.”
Recent research by Early Warning Services suggested that three quarters (75%) of millennials and over two-thirds (69%) of Gen Xers have used P2P as a method to send or receive money from businesses, family or friends.
“It’s really exciting to be part of this project with Wirecard and to contribute to a unique payment solution that has the potential to be a winner in the entire region,” added Emil Bituleanu, CEO, Libra Internet Bank.
“This kind of partnership is perfectly suited to our organisation, as we are highly customer oriented, agile and digital intensive.”
