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Rakuten Viber to launch Viber Pay in the Philippines

Wednesday 21 August 2024 15:38 CET | News

Private and secure messaging and voice communication app Rakuten Viber has announced the launch of in-app digital payments feature Viber Pay in the Philippines.

 

Rakuten Viber has announced the launch of in-app digital payments feature Viber Pay in the Philippines.

Rakuten Viber wants to offer a fintech solution via Viber Pay that allows friends, loved ones, and businesses to instantly send money as easily and securely as sending a Viber message.

Early access for Filipinos

Filipinos can secure early access to Viber Pay ahead of the full launch by updating their Rakuten Viber app to the latest version and joining the waitlist from the new ‘Pay’ tab. Early access will begin in September 2024.

Once early access is granted, users can activate their digital wallet by completing a simple signup process that usually takes less than a minute. After activation, users can instantly send money to friends and family on Rakuten Viber for free; add money to their account through mobile wallet apps GCash and Maya, bank transfers, or over-the-counter methods; and securely buy from businesses that accept InstaPay. They will also get to enjoy a range of exciting offers exclusive to Viber Pay from certain brands.

To upgrade to the full Viber Pay experience, users must verify their identity by scanning their ID and uploading a selfie. Once verified, they can request money from friends on Rakuten Viber with a QR code, withdraw funds from their wallet, and increase their monthly transaction limit from USD 886 to USD 1772.

Business wallets in the Philippines for secure payments

Users in the Philippines will also be the first in the world to receive business wallets to keep personal and business finances separate in Viber. Business owners can open a Business wallet, in addition to their Personal wallet, and accept secure payments from customers via a QR code. Unlocking the full benefits of the Business wallet, including a higher transaction limit of USD 8864 requires a verification process similar to opening a personal Viber Pay wallet. Business wallets are expected to be available on Viber Pay shortly after the launch of Personal wallets.

Viber’s commitment to security (and that of its licensed partner) was a critical factor in the success of the initial launch of Viber Pay in Greece and Germany. Beyond industry-standard security measures to protect user data and transactions, a PIN code and biometric authentication further protect wallet access and transaction confirmations. To provide licensed and regulated payment services, Viber partnered with Paynamics, a trailblazer in the payments industry with a proven track record of driving technological advancements and setting new standards for financial transactions.

The launch of Rakuten Viber’s digital wallet comes as the Philippines notes high demand for cashless transactions. The latest Visa Consumer Payment Attitudes Study shows mobile wallet usage in the country jumped to 87% in 2023, on par with cash transactions. 43% of surveyed Filipinos said they carry less cash due to the increasing popularity of cashless and contactless payments, supported by wider acceptance among stores and merchants.


Source: Link


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Keywords: mobile payments, product launch, payment methods, money transfer, QR code
Categories: Payments & Commerce
Companies: Rakuten Viber
Countries: Philippines
This article is part of category

Payments & Commerce

Rakuten Viber

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