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| (Image Source: Orange Magazine TV/Rakuten Viber) |
Rakuten Viber, a global leader in private and secure messaging and voice-based communication, will soon launch its in-app digital payments feature Viber Pay in the Philippines. Rakuten Viber will be the first messaging app in the Philippines to offer a fintech solution that allows friends, loved ones, and businesses to instantly send money as easily and securely as sending a Viber message. 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 which is being rolled out over the coming days. Users can advance their position in line and gain earlier access by inviting friends, family, and other contacts to join the waitlist. 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 be able to enjoy a range of exciting offers exclusive to Viber Pay from leading 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 Php50,000 to Php100,000.
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 Php500,000, 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, wallet access and transaction confirmations are further protected by a PIN code and biometric authentication. To provide licensed and regulated payment services, Viber partnered with Paynamics, a trailblazer in the payments industry, that has 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. “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. 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," says Rakuten Viber Vice President of Fintech and Business Solutions Ritesh Shah.
