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Future of Money: Sending Money on Viber is as simpleas Saying Hello

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Viber is the latest messaging application to show huge desire in the mobile payments niche after Facebook Messenger successfully did the same.

However, it is important to note that even if Viber joins Messenger in offering users with secure platforms of sending and receiving money over the internet, they will not be the first apps to do so. There are other messaging applications that are already making profits from this service, among them WeChat and LINE, both of which are making headlines in Asia onhuge profit margins from e-commerce services.

Easy way of sending money to friends and family

Messaging apps have become the most essential means of communication in today’s highly technological world. If someone is not using WhatsApp, then he or sheis on Facebook Messenger, Twitter, LINE or Viber. All of these apps are reliable when it comes to keeping in touch with loved ones who are within your locality and those who are miles away in other countries.

Just like these messaging apps have made it easier to say “hello” to someone who is thousands of miles away, it seems Rakuten, the company behind Viber free messaging app, is looking to bring the same experience to mobile payments.

Earlier this month, Viber filed a trademark for the U.S. Patent and Trademark Office for the phrase “Sending Money is as easy as saying hello.” The company has not mentioned the exact date that users should expect to receive this new feature, but there is no doubt this addition will make this already amazing app a comprehensive communication tool. The app already offers free messaging and calling services as well as affordable calling to non-users of the app through their phone numbers and landlines.

In an email statement sent to MarketWatch, the chief of marketing Mark Hardy said that “Viber is in a constant process of R&D with an aim of looking into new, available offerings for our users. One area that interests us is that of mobile payments. We will have detailed information about this service shortly.”

Viber will be facing stiff competition from industry heavyweights such as PayPal and Venmo; however, this messaging platform has the advantage of holding a massive user base of over 606 million people, which is an increment of over 140 million from last year’s 460 million. Facebook Messenger payment feature is only available in the U.S., but it is still being tested, and it is expected to spread to other regions once the company is satisfied with its performance.