Rakuten Viber brings money transfer service to Cyprus

Monday 24 April 2023 10:54 CET | News

Calling and messaging app Rakuten Viber has announced the gradual launch of Viber Pay, its real-time account-to-account (A2A) money transfer service, in Cyprus.


With the addition of this fintech feature, the platform aims to consolidate its position as a super app and further its growth trajectory. The Cyprus launch follows the initial function presentation in Greece and Germany in July 2022, and being a secure, easy-to-use feature that enables money transfers from country to country, it is expected to be appreciated by users with relatives, friends, or business partners in these regions.

Digital payments and Viber Pay’s capabilities

As of now, Viber Pay enables direct and free transactions between Greece, Germany, and Cyprus, and Cyprus-based users can send money to each other in an easy and secure manner by creating a digital wallet through a two-minute process that requires registration and email confirmation.

The service allows transactions of up to EUR 120, or EUR 4,500 should the user confirm additional details. Furthermore, Viber Pay users have the option to send money from their wallet to other Viber users even if they don’t have a digital wallet set up, and these features are set to be available to Cyprus-based users within the following days.

Calling and messaging app Rakuten Viber has announced the gradual launch of Viber Pay, its real time account to account money transfer service, in Cyprus.

To provide licenced payment services in these first three markets, Viber collaborated with Fintech-as-a-Service company Rapyd, which integrated licenced transaction services directly within the Viber app to improve its payment capabilities. As per the information detailed in the announcement, Viber users will be enabled access to a wide array of additional financial services, including:
  • Viber wallet-to-wallet payments for domestic transactions with friends and family in a free and instant manner;

  • Viber Pay in Chats, which provides users with the option to send and receive the money within the chat in three steps;

  • Bank transfers for simplified payment of everyday expenses at domestic banks, such as utility bills;

  • Exclusive discounts and rewards.

To begin leveraging Viber payments, users need to set a personal identification code or biometric identification to ensure secure transactions are enabled, and payment confirmations will be sent automatically with end-to-end encryption.

Commenting on the announcement, Ofir Eyal, CEO of Rakuten Viber advised that with the addition of these fintech capabilities, Viber is set to expand its utility and value to users, adding that user-friendly payment features will enable them to connect, interact, and transact across borders without leaving the messaging platform. As per their statement, Viber’s security, and privacy protection together with the high standards of payment services of its partners help create a simple and secure alternative for conducting personal and business transactions within the app.

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Keywords: product launch, payments , mobile payments, account-to-account payment, money transfer, digital wallet, encryption, super app, fintech, payment methods, financial services, bank transfer, cross-border payments, real-time payments, chat commerce
Categories: Payments & Commerce
Companies: Rakuten Viber
Countries: Cyprus
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