Real-Time Settlement provides the Viva.com merchant community with nearly immediate access to their funds. In essence, this update significantly reduces the settlement time for transactions, now taking only up to 60 minutes, in contrast to the previous next-day settlement process.
As for Offline Payments, it has been developed to ensure that Viva.com merchants can minimise the risk of losing sales due to network connectivity issues or disruptions. Offline Payments allows for card-present transactions to be accepted automatically, even when a merchant cannot connect to a network at the point of sale.
Viva.com's payment solutions are designed to equip businesses of all sizes with innovative tools that can simplify their operations and increase sales. The Viva.com Terminal app can transform smart devices into card terminals, while the Viva.com Smart Checkout payment gateway aims to boost conversion rates, supporting over 30 different payment methods.
These new features will initially be made available to businesses holding a Viva.com account, providing benefits for optimising cash flow and managing expenses efficiently. Real-Time Settlement and Offline Payments are the latest additions to Viva.com's suite of products for merchants, which already includes a business debit card for managing, automating, and monitoring corporate expenses while reducing transaction fees.
In the company press release, representatives from Viva.com emphasised the significance of these developments by pointing out the difficulties that arise for businesses when they are forced to wait for funds to come through on a sale that's already been completed, or missing out on a sale due to network connectivity issues. Real-Time Settlement and Offline Payments aim to solve both of these issues by supporting near-instant payments, options for no transaction fees, and the ability to complete sales under even the most challenging connectivity conditions.
In October 2023, Viva.com received an E-Money Institution authorisation for its UK subsidiary Vivawallet.com from the Financial Conduct Authority.
Following this announcement, Vivawallet.com gained the ability to improve and extend its suite of secure, regulated, and reliable payment solutions. At the same time, the institution expressed its commitment to continue meeting the standards and requirements of the UK regulatory framework.
In September 2023, Viva.com announced its partnership with France-based clothing brand Petit Bateau in order to upgrade the latter’s Store+ solution. Following this announcement, Petit Bateau’s Store+ solution integrated with Viva.com’s payments technology. The partnership between the companies aimed to boost sales and meet the needs, preferences, and demands of customers in order to improve their overall shopping experience.
For more information about Viva Wallet, please check out their detailed profile in our dedicated, industry-specific Company Database.
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