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.”