How Does Viva Wallet Work

Viva Wallet is a digital payments platform and business banking solution designed to simplify how companies manage money and accept payments. It combines merchant services, business accounts and payment technology in one integrated system. For ecommerce businesses and retailers, it allows seamless online and in-person transactions without relying on multiple service providers.

Understanding how Viva Wallet works helps businesses see how it can streamline operations and improve efficiency. It provides both payment processing and business account functions, making it suitable for startups, established merchants and large enterprises that want greater control over their financial management.

Setting Up a Viva Wallet Account

The first step is registering for a Viva Wallet merchant account. This involves submitting business details, verifying ownership, and providing identification as part of financial compliance requirements. Once approved, the account gives access to the Viva Wallet dashboard, where users can view balances, process payments and manage all financial activities from one place.

Businesses receive a virtual IBAN account that can be used to send and receive payments. They can also request physical or virtual business debit cards linked to the account. These cards can be used for company expenses, supplier payments and cash withdrawals. Everything is managed through a secure cloud-based system that can be accessed from any device.

Accepting Payments Online

Viva Wallet’s online payment gateway is one of its most powerful features. It allows businesses to accept payments on their ecommerce website securely and efficiently. The process begins with integrating the Viva Wallet Smart Checkout into the online store. Once connected, customers can pay using their preferred method, whether that is a debit or credit card, Apple Pay, Google Pay or other local options.

The checkout process is optimised to detect the customer’s country and currency automatically. This ensures smooth transactions and reduces abandoned carts. After a successful payment, the funds are deposited into the merchant’s Viva Wallet account. Businesses can then use the account balance to pay suppliers or transfer funds to other bank accounts.

Security is built into the system, with end-to-end encryption and compliance with European payment standards. Fraud prevention tools monitor transactions to ensure payments remain safe and reliable for both the merchant and customer.

Accepting Payments In Person

Viva Wallet also supports physical transactions for shops, salons, restaurants and events. Businesses can use Viva’s smart terminals or mobile point-of-sale systems to accept card and contactless payments. These devices support chip and PIN, tap-to-pay and mobile wallet transactions.

Each in-person transaction syncs automatically with the main Viva Wallet account, so all sales data is consolidated in one dashboard. This makes it easy for businesses to track total revenue, manage inventory and reconcile accounts without additional software. For small retailers or mobile traders, Viva’s Tap-on-Phone feature even turns compatible smartphones into card readers, offering greater flexibility without the need for extra hardware.

Managing Business Finances

Beyond payment processing, Viva Wallet provides a full suite of financial management tools. The platform allows businesses to issue company debit cards, monitor transactions in real time and manage expenses by department or employee. Detailed reports and analytics provide insights into revenue patterns, helping business owners make informed decisions.

Funds held in a Viva Wallet account are safeguarded under European e-money regulations. While not covered by government deposit protection schemes, they are stored securely and can be transferred instantly between Viva accounts or to external banks. Businesses can also automate payments to suppliers and manage recurring transactions without manual intervention.

The dashboard gives full visibility over all activity, from daily sales to refunds and transfers. This level of control is particularly valuable for ecommerce merchants who need to track income from multiple channels while keeping accounting simple.

Viva Wallet for Ecommerce Businesses

Ecommerce stores benefit greatly from Viva Wallet’s advanced integration options. The payment gateway can connect with major ecommerce platforms such as Shopify, WooCommerce, Magento and PrestaShop. Integration is designed to be straightforward, with plugins and APIs that link the checkout process to the Viva system directly.

For merchants, this means faster payments, fewer abandoned baskets and a more professional checkout experience. The Smart Checkout automatically displays relevant payment methods based on the customer’s device and location, which helps improve conversion rates. Viva Wallet also supports multi-currency payments, making it ideal for online stores selling internationally.

The system offers recurring billing for subscription-based businesses and supports instant refunds, both of which enhance the overall customer experience.

Pricing and Fees

Viva Wallet’s pricing structure depends on the type of transaction and the region where the business operates. Generally, card-present transactions have lower fees than online or card-not-present ones. The platform aims to keep costs competitive, and fees are clearly outlined within the merchant dashboard.

Merchants can access their money quickly after transactions are processed, with funds typically settling in the Viva Wallet account within a short period. From there, they can use the balance directly or transfer it to other business accounts.

Advantages of Using Viva Wallet

The main advantage of Viva Wallet is that it combines payment processing and business banking into one platform. This removes the need for multiple providers and makes financial management much easier. Businesses can handle online and offline sales, expenses and supplier payments from a single system.

Its 24/7 accessibility means that business owners can monitor their accounts and transactions anytime. The dashboard provides a complete overview of all financial activity, reducing the need for manual accounting. Viva Wallet’s integrated setup also helps reduce costs, since there are no separate fees for using different services.

Viva Wallet’s flexibility makes it ideal for growing businesses. Whether expanding into new regions or adding sales channels, the platform can scale easily without major technical changes.

Considerations Before Using Viva Wallet

Although Viva Wallet offers many benefits, businesses should consider a few key points. As an electronic money institution, it does not offer deposit protection under traditional banking schemes. While funds are safeguarded by regulation, they are not guaranteed in the same way as those held by banks.

Integration can also require some technical setup, especially for customised ecommerce platforms. Most standard solutions like Shopify and WooCommerce have pre-built connectors, but bespoke websites may need developer assistance.

Finally, businesses should review transaction fees and settlement terms carefully to ensure they fit with their pricing strategy and cash flow needs.

Comparing Viva Wallet to Other Providers

Compared to alternatives such as Stripe, PayPal and Square, Viva Wallet stands out because it offers business banking features in addition to payment processing. This makes it more than just a gateway; it functions as a complete financial ecosystem for businesses.

While PayPal is widely used for consumer transactions, Viva Wallet provides greater flexibility for businesses that want to manage funds internally. Its integration with ecommerce and in-person sales channels also provides a consistent experience across all touchpoints.

Conclusion

Viva Wallet works as an all-in-one financial solution that allows businesses to accept payments online and offline, manage funds and streamline financial operations. It combines the power of modern payment technology with the convenience of a digital business account.

For ecommerce and retail businesses in the UK and across Europe, Viva Wallet offers a practical, secure and scalable option for handling payments and managing money. With its combination of flexibility, cost-effectiveness and advanced technology, it continues to gain popularity as a trusted partner in the world of digital commerce.