Page 13 - bne_Tech_10_2019

Fintech & E-commerce
October 2019 www.intellinews.com I Page 13
Viber P2P instant money transfer makes debut
in Hungary
Rakuten's Viber has teamed up with card company Mastercard to launch instant money transfers, allowing users with Hungarian-issued bank cards to send money to other Viber users, it was announced on October 3.
The new service, named Moneytou, was developed in Hungary and will initially operate with cards issued in Hungary. Viber plans to roll the the service out in other markets as well.
"Partnering with Mastercard and NeoPay has enabled us to offer Hungarians the ability to easily send, receive and transfer money to friends and family with just a few taps," said Cristina Constandache, chief revenue officer.
Customers will be able to benefit from the speed of money, with funds being transferred within
a matter of minutes, including evening hours and weekends. The transferred amount
will appear in the recipient’s balance and is
immediately available to spend by card or withdrawn in cash, she added.
In accordance with EU money laundering regulations, Viber Moneytou allows users to
send up to HUF125,000 (€375) per month and HUF780,000 a year, but there is a possibility to increase the limit through local card-issuing banks.
Users are charged a flat fee of HUF79 per transfer and a 1.5% commission on transfers over HUF3,000. The flat fee is reduced to HUF49 on Saturdays.
Hungarian banks have also been working hard to introduce instant money transfer which will make it possible to settle financial transactions any day within a maximum of five seconds.
The MNB announced the delay of the scheme from July 1 to March 2, 2020, as banks were not ready for the launch.
Estonia’s Funderbeam gets Singapore financial services licences
Estonia-founded Funderbeam, an international funding and trading platform for private high growth companies, has received two financial services licenses from the Singaporean authorities, the company said.
Funderbeam’s aim is to fill in the gap in venture and SME capital markets by providing
access and liquidity to growth investments, the company says.
The RMO trading licence from the Singaporean authorities will allow Funderbeam to accelerate the growth of its secondary offer, by introducing automated trading and secondary listing service to any private company in Europe and