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12. 04. 22
Peer-to-peer money transfers for RaiPay
Peer-to-peer money transfers for RaiPay user/common.seoImage

New convenient service for application users from Bulgaria.

RaiPay is a mobile payments app used by Raiffeisen banks in 8 countries with about half a million users. RaiPay can be used for contactless payments, card management, and now for peer-to-peer payments as well.

At the beginning of April, instant transfers between Visa and Mastercard payment cards of Raiffeisen Bank Bulgaria became available for the application users.

The service peer-to-peer payments enable the money transfer between cards of friends, colleagues, or any cardholders of Bulgarian bank cards in a matter of seconds at comfortable rates.
As part of a joint project between UPC and Raiffeisen Bank Bulgaria, and RPC, UPC provided technical, architectural, and methodological support, as well as consulting services for the new peer-to-peer payments functionality. From RPC side was implemented the core mobile application with attention to frictionless flow and fulfillment of psd2 regulations.
 
“Peer-to-peer functionality in RaiPay is long-awaited and highly appreciated service by our customers. Together with UPC we were able to build a great product and achieve an outstanding customer experience. The project went smoothly due to UPC colleagues' expertise and flexibility. We are looking forward to expand the service in other markets as well” said Mariya Georgieva, Digital Payment Leader in Raiffeisen Bank International AG.

UPC is providing the necessary API, reliable transaction processing, and security following all PCI DSS requirements.

In the future, it is planned to expand the service with cross-border transfer and for other Raiffeisen banks.

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