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Viva Wallet debuts API for PSD2-compliant marketplace transactions

Source: Viva Wallet

Viva Wallet’s PSD2-compliant payment solution for online marketplaces removes the requirement for them to become licensed providers of regulated payment services.

Viva Wallet is able to handle the streamlined processing of customer transactions through a PSD2-compliant escrow account that sits under Viva Wallet’s license.

The rapid rise of online marketplace platforms across Europe, which act as an intermediary for buyers and sellers, has dramatically changed how consumers order takeaway food, call a taxi, rent a room, and so much more. The global pandemic has made marketplace payment solutions even more of a priority for businesses looking to maintain and grow across digital platforms, as customers seek out ways to shop and pay hygienically and friction free. A recent study by Neilsen found that 44% of global consumers now shop online at least once a week, compared to only 9% before the pandemic.i

The Viva Wallet solution enables such transactions to be fully PSD2-compliant while ensuring that sellers/resellers using online marketplaces are paid quickly, safely, and transparently. At the same time, Viva Wallet offers APIs for acquiring, issuing and transfers, to improve overall compliance and platform growth.

In the era of open banking, integrating a Viva Wallet API on marketplace platforms also offers next-day payment settlements for all sellers, instant commission pay-outs for marketplace owners, as well as customizable checkout systems and payment pipelines, making Viva Wallet's marketplace solution a particularly easy one to use for sellers and marketplace owners alike.

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