Publisher note: We recently started working with Viva wallet to simplify the often fragmented European settlement market. Glad to share more information! Since many countries have their own currencies and competition regulations, it may be difficult to manage the finance of e-commerce business in Europe. This brings headaches to store owners, such as historically slow settlement, complex workflow, cumbersome exchange, opaque settlement process and high transaction costs. Woocomerce, whose mission is to democratize business, recognizes that this complexity may hinder the development ability of new entrepreneurs or hinder some people from starting businesses. We want to contribute to the solution, but to solve a problem as complex as payment requires a lot of local situation and knowledge. We found a partner in Viva wallet.
Viva wallet was launched by a developer group that specializes in making banking applications. Facing the setback of financial regulations and the complex payment situation of customers, they began to develop their own end-to-end online payment solution, which worked well in the divided European market. The construction of a licensed e-money institution resident in the cloud and operating throughout the European economy is actually the first complex work performed by Viva wallet. The idea of allowing you to settle accounts easily, intelligently, quickly and stably is welcomed. It has grown into a pan European payment system for authorized merchants through ease of use and cost efficiency. Viva wallet is supported by 500 teams in 9 languages from 23 countries.
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The technology identifies each customer’s country and automatically localizes language, call and payment options. As a result, store owners can gain better experience and higher conversion rates. The Viva wallet account acts as the store owner’s bank account and can use the store’s proceeds anywhere a debit card is allowed. Other benefits include: BIVA wallet is free. It is a check card issued by the franchise store on BIVA wallet. When using the franchise store, there are no monthly royalties, hidden fees, settlement and acceptance fees. The owner does not need to have a separate bank account for settlement in the country in which he operates. They provide local Iban support seller accounts. On rest days, there are also transactions. The next day, the money will be deposited into the owner’s account. If franchise stores use Viva wallet debit card for social advertising (Google Advertising, Facebook advertising, etc.), fuel and lunch, the settlement fee can be reduced to 0%. Franchise stores can use all major direct payment and credit cards, including visa, MasterCard, American Express, JCB and bancontact. Store owners can accept payments on local payment platforms, such as ideal, przelewy24 and payu, with additional payments every month. The customer does not redirect to the external page, but completes the payment on site. Viva wallet uses its own software on the Microsoft azure cloud instead of on the local server, greatly reducing the risk of sellers. They will not miss payment or suffer losses due to system interruption
whole Viva wallet is a licensed e-money organization that provides payment protection and reduces refusal rates through PCI DSS level 1 compliance, powerful sca (customer authentication), integrated AI based risk management, anti fraud system and 3D secure. Viva wallet, which will be brighter and more connected in the future, is a truly integrated market for online payment in Europe.
The Viva wallet was launched by the team of engineers, so the technology is applicable to all products. Unlike the banking industry, its infrastructure is built from the beginning to enhance the possibility and bypass the traditional way of transferring funds. \
In collaboration with woocomerce, viva wallet is trying to create an extension that provides a smooth experience for end users and improves the conversion rate of online stores. Woocommerce’s Viva wallet woocommerce’s Viva wallet extension is basically integrated with the store to synchronize sales, refunds, bank remittances and customer data between woocommerce and viva wallet. Business owners can now manage all payment channels through a centralized platform. Simple process, one-time integration, rapid setting and automatic update.
The extension was launched in 2020 after Viva wallet leaders and developers heard, collected feedback, re implemented what they learned into the product, and incorporated themselves into the woocomerce community. The end result is a cutting-edge solution for e-commerce business running on woocommerce. Viva wallet’s focus is to further improve the integration that is improving every day. If you are looking for a payment partner in Europe, please use Viva wallet with woocommerce.
