The new service Moneytou from Wirecard will enable payments to be made using the messaging app
The new service Moneytou from Wirecard will facilitate payments using the Viber messaging app (Credit: Wirecard)
Wirecard and Libra Internet Bank are joining forces with Rakuten Viber (Viber) and its partner NeoPay to launch instant messenger payments to Eastern European consumers.
The payments will be enabled through a new money transfer service called Moneytou – powered by Mastercard.
Viber is a cross-platform voice over IP (VoIP) and instant messaging (IM) app that is used by more than a billion users across the world.
The Moneytou services will help users to quickly and securely transfer money to each other through the Viber platform, said Wirecard.
Wirecard regional managing director Utku Ogrendil said: “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.”
The German fintech company will process the peer-to-peer (P2P) payments made with cards associated with the Moneytou service, while Libra Internet Bank will be the local acquirer.
According to Wirecard, the Moneytou service will make the transferred funds appear in the recipient’s balance almost immediately, thereby enabling them to be either spent through card or withdrawn in cash.
The German fintech company said that customers can register more than one card within the Viber app with all transactions between users processed by it.
Wirecard and Viber to initially launch the Moneytou service in Hungary
The instant messenger payments service will be first launched in Hungary and subsequently across other Eastern European markets. Wirecard is targeting 25 million users for the new payments service in the first phase.
To transfer payments to another person, users have to tap a separate Moneytou icon within the Viber messaging app without having to input their bank account numbers or sort codes. Users can send up to 125,000 Hungarian forint ($412.27) a month, and up to HUF780,000 ($2572.6) a year.
Rakuten Viber chief revenue officer Cristina Constandache said: “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.
“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.”