How do interest-free installments work?

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Every time you create a Payment Order you can optionally instruct Viva to give your customer the alternative to pay in monthly installments. You can select the maximum number of installments offered to your customers. This is very convenient for them and can be used for any type of product or service you may offer, even things no one thought of paying by installments before! 

Your customer can either pay for the full amount, or select the number of installments they want (up to the maximum already defined by you). 

The money for each installment (less our fees) will be transferred to your business Viva Wallet account every subsequent month. The first installment will be transferred to your business Viva Wallet account within 30 days.

Although your customers are charged for each installment every month, the full amount of the payment is reserved from their credit card balance from the beginning.