Wirecard and Libra Internet Bank Team up With Rakuten Viber to Bring Instant Messenger Payments to Millions of Eastern European Consumers
- New "Moneytou – powered by Mastercard" service will run on the Rakuten Viber messenger app, which boasts over one billion users worldwide
- Wirecard will process all card transactions within the app, ensuring a seamless user experience
- The service will quickly roll-out across Eastern European markets targeting 25 million users in the first phase
ASCHHEIM, Germany, Oct. 4, 2019 /PRNewswire/ -- Wirecard, the global innovation leader for digital financial technology, is working with Rakuten Viber and its partner NeoPay to launch a new money transfer service for users of Viber, the secure instant messaging app. With Moneytou – powered by Mastercard, users will be able to quickly and securely send money to each other via the popular messaging app, which has over one billion users worldwide. Wirecard will process these peer-to-peer (P2P) transactions made with payment cards linked to the Moneytou service, with Libra Internet Bank acting as the local acquirer. After the upcoming launch in Hungary, the service will quickly roll-out across other Eastern European markets targeting 25 million users in the first phase.
Today's digitally savvy consumers increasingly crave the ability to make payments quickly and easily in a wide variety of ways: whether that is via traditional card products or through payment apps. P2P payment services such as Moneytou have rocketed in popularity in recent years. 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. According to eMarketer, over $200 billion is expected to flow through P2P payment methods next year in the US alone.
Speed is of the essence in today's digitally transformed society. With Moneytou, the transferred funds will appear in the recipient's balance almost instantaneously, allowing them to be spent by card or withdrawn in cash. Further, to ensure a smooth and user-friendly experience, customers can register multiple cards within the Viber app. All transactions between users are processed by Wirecard.
"Rakuten Viber messaging is extremely popular, with the service now boasting over one billion registered users worldwide," explains Utku Ogrendil, Regional Managing Director of 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."