Rakuten Viber Launches In-App Digital Payment in the Philippines
Rakuten Viber is set to launch Viber Pay in the Philippines soon, making it the first messaging app in the country to offer a fintech feature. Already available in Germany and Greece, Viber Pay will enable users to check balances, send money, and enjoy discounts from partner merchants. This move aligns with the high e-wallet adoption in the Philippines and the growing demand for integrated digital solutions.
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What is Viber Pay?
Viber Pay promises a seamless and secure payment experience, allowing users to transfer funds to friends and family for free and securely purchase goods and services from businesses that accept Instapay. It also includes a digital wallet, functioning like a bank account. Users can add funds to their accounts through mobile wallet apps like GCash and Maya, bank transfers, and over-the-counter methods. Viber Pay also plans to introduce features like a referral program, exclusive offers, bill splitting, and a virtual debit card with Apple Pay and Google Pay integration.
The in-app digital payments feature is protected beyond the usual PIN code and biometric authentication. Viber Pay is partnered with Paynamics, a secure payment acceptance facility. This security complements Viber's built-in end-to-end encryption when it comes to private and group chats as well as private calls.
Business owners can also open a Business wallet on top of their Personal wallet. This separate account allows for secure payments from clients via QR code with a higher transaction limit of P500,000. The Philippines will be the first in the world to get this additional feature of Viber Pay.
"The Philippines stands out as a key market with a robust community of active Rakuten Viber users and a growing demand for secure cashless transactions, and so we expect to see strong demand and usage here for Viber Pay," said Ritesh Shah, Vice President of FinTech and Business Solutions at Rakuten Viber, in a statement. "Launching Viber Payments here sets the stage for a more convenient, inclusive, and secure payments ecosystem, ensuring that Filipinos can enjoy secure, hassle-free payment services within the super app where they already call and chat with their loved ones every day."
How to Access Viber Pay
Viber users can already get early access to Viber Pay even before the feature's official launch by updating their app. A waitlist through the 'Pay' tab will be available in the next few days, while early access will begin in September. This early access allows the activation of a digital wallet through a simple sign-up process.
Verification of identity by scanning an ID and uploading a selfie is encouraged to get the full Viber Pay experience. Upgraded access allows users to generate a QR code for payment transfers, withdraw funds, and increase the monthly transaction limit from P50,000 to P100,000.
