Wirecard has entered into a partnership with Israel-based Rakuten Viber, the messaging app, along with its partner NeoPay in a bid to facilitate the launch of a new money transfer service for Viber’s users. The Mastercard-powered money transfer service Moneytou is expected to allow money transfers via the application. The P2P transactions linked to Moneytou will be processed by Wirecard along with the local acquirer Libra Internet Bank.

“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.”

The new service will be launched in Hungary along with multiple expected roll-outs across Eastern Europe. According to the supplier, through Moneytou’s utilization, the transferred funds will be shown in the recipient’s balance immediately. It will also allow for the multiple registrations within the Viber App.

“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,” comments Cristina Constandache, Chief Revenue Officer at Rakuten Viber.

“This kind of partnership is perfectly suited to our organization, as we are highly customer-oriented, agile and digital intensive,” said Emil Bituleanu, CEO of Libra Internet Bank.

Rakuten Viber is a part of the e-commerce and financial services provider, Rakuten. It provides its user base with features including chats, video calls, group messaging, etc.

Recently, Wirecard announced the launch of its fully digital multi-merchant loyalty solution which aims to support companies in their expansion goals through its B2B2C approach.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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