Following this announcement, French merchants and businesses will be allowed to accept in-person contactless payments with Tap to Pay on iPhone and the Viva.com Terminal iOS application. Tap to Pay will continue to accept all forms of contactless payments, such as debit cards, contactless credit, Apple Pay, and other digital wallets, without the need for any additional hardware or payment terminal. Tap to Pay also features multiple card schemes, such as Visa, Mastercard, and American Express, with Diners, Cartes Bancaires (CB), or Discover being set to be available soon.
Tap to Pay on iPhone will enable Viva.com’s network of traders to use a payment service that is easy to set up and leverage. At checkout, merchants will only need to prompt the client to hold their contactless credit or debit card, Apple Watch, Apple Pay, or other digital wallet near the merchant’s iPhone in order for the transaction to be securely made.
The Viva.com Terminal app was designed to be fully compatible with any designated French bank account, providing customers in the region with multiple benefits, from near-instant access to their funds to transactions settled in up to 60 minutes.
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Cloud-based nonbank Viva.com announced multiple partnerships and launches in the last couple of months, covering several different geographic areas around the world.
In October 2023, the company released Real-Time Settlement and Offline Payments solutions in order to simplify business operations in the region of Europe. The RealTime Settlement was developed to offer the Viva.com merchant community nearly immediate access to their funds, which is set to reduce the settlement time for transactions, making them take only up to 60 minutes, in contrast with the previous next-day settlement procedure.
The new features aimed to initially be available to businesses and companies that held a Viva.com account, which provided benefits for optimising cash flow and the process of managing expenses efficiently and securely. The Real-Time Settlement and Offline Payments represented the latest additions to Viva.com’s suite of tools for traders, which already included at the time a business debit card for managing, monitoring, and automating corporate expenses while reducing transaction fees.
Earlier in the same month, Viva.com received an E-Money Institution authorisation for its UK subsidiary Vivawallet.com from the Financial Conduct Authority. Following this announcement, Vivawallet.com was enabled to improve and extend its suite of secure, reliable, and regulated payment services, as it was set to continue its commitments to meet the requirements and standards of the UK regulatory framework.
The EMI licence represented an important step for the company, as it was given the capability to continue its expansion strategy in the region of the UK. Moreover, the neobank also aimed to provide its full range of products to UK businesses and merchants, which focused on optimising their payment experience by using its proprietary technology.
For more information about Viva Wallet, please check out their detailed profile in our dedicated, industry-specific Company Database.
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