VibePay Gets Green Light From FCA

VibePay, which is being backed by property mogul Nick Candy’s Candy Ventures through an investment in The Vibe Group, has been granted authorisation from the FCA to provide payment initiation and account information services.

VibePay’s opening product will be a peer to peer payment app for mobile, allowing users to organise events, request and receive money from friends. The app is expected to launch this autumn. VibePay will also be introducing a B2B solution, allowing consumers to pay direct from their bank when shopping online. 

Luke Massie, CEO at VibePay, said: “The VibePay app makes it easier for groups of friends to plan and pay for their social activities. It takes the pain out of collecting council tax from flatmates and planning holidays with friends.

“At Vibe, we understand young consumers and build products that add value to their everyday lives. We’re excited to bring merchants and marketplaces an engaged, transactional and highly targeted user base.”

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Source The Vibe Group
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