In November, Sidemen and YouTube extraordinaire Vikkstar announced he had become a part-owner of VibePay, a social payment company attempting to bring a new, more engaging dimension to buying and selling.
We caught up with Vikkstar and CEO Luke Massie to find out what VibePay can offer influencers and content creators.
Vikkstar, VibePay and the Streaming Economy
As a UK and European-focused open banking company, VibePay has to solve rather different banking issues than the likes of CashApp and Venmo in the US.
“In the UK and Europe, sending and receiving money really isn’t a problem,” said Massie. “What is the problem is the fact I have to go into all these different places, and there are middlemen taking fees. And that’s ultimately what Vibe is trying to break down.”
Vikkstar shared a similar opinion. “You don’t have the platform fees, there is no middleman. No one really wants to be giving out their bank details,” he said. “I employ so many different people on a regular basis, and traditional companies still want me to give them their bank details. And I don’t know who this person is.”
“That’s something we don’t need In this day and age. Things should be more simple. I shouldn’t be having to type in numbers and references, invoices should be as simple as a click.”
Referring to the streaming community, Vikkstar said VibePay can also streamline the donation process.
“Our audience can also be clients, and if you want to receive donations as a streamer from audiences, a lot of that has to happen through other platforms which charge subscriptions and charge fees. We’re in a time where with technology where that doesn’t need to be the case. With Vibe, and especially when the launch VibePay Pro, that will be the perfect solution to those problems.”
Explaining VibePay Pro, Massie said it will allow users and sellers to connect on a more social level. “Ultimately, the end goal is to connect brands with their consumers,” he said. “So Sidemen can have channels with thousands of customers within the VibePay app.”
Massie also said these channels also improve what happens after a purchase. “VibePay is really focused on this post-transactional experience,” he said. Brands and sellers can send personalised messages - including deals - via push notifications to customers, which Massie said is “super important and super engaging” in a generation that uses emails less.
Read More: TimTheTatman Says Caldera's Pace Is Too Slow