Rakuten Viber is upgrading its Viber Pay service by switching from Rapyd to Paynetics as its embedded finance infrastructure provider. The migration covers existing users across seven European markets (Slovenia, Slovakia, Lithuania, Estonia, Greece, Cyprus, and Germany) and brings Visa virtual debit cards to all users. Paynetics operates as the regulated e-money institution powering the entire service, from card issuance to transfers and compliance.
Viber Pay lets users send money to friends and family instantly within the Viber messaging app, with no fees. Users get a wallet with an IBAN that works like a bank account. They can top up via cards or SEPA transfers, send money as easily as sending a message, and now receive a Visa virtual debit card for online shopping and everyday spending management. The service has attracted over 1 million wallet openings since launching in 2022.
Why the Switch?
The announcement doesn't explain why Viber moved from Rapyd to Paynetics. Infrastructure switches like this aren't trivial, they require user migration and re-integration of the payment experience. Whatever the reason, Viber saw enough value in the new setup to justify moving its entire user base.
The Super App Play
Rakuten positions Viber as a super app, and Viber Pay is a key piece of that strategy. The service sits directly in the main screen of the Viber app, accessible where users are already chatting. The product roadmap includes features like bill splitting in group chats, utility bill payments, and integration with Apple Pay and Google Pay. These aren't revolutionary features, but they're table stakes for any messaging app with embedded payment ambitions.
The bigger question is whether fee-free P2P transfers and basic wallet functionality are enough to make Viber Pay sticky, or whether users will default to their existing banking apps and payment methods. Viber has scale, but that alone doesn't guarantee adoption.
What This Means for Paynetics
For Paynetics, this partnership could shift their focus more toward embedded finance. Most of their customers so far have been fintech companies. If they can scale this across Viber's footprint and demonstrate regulatory stability, it becomes a reference case for non-financial platforms considering similar moves.
