What is a ‘Wallet’ and how does it work?

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A ‘Wallet' is a virtual repository where your electronic money - the digital equivalent of cash - is securely stored. Think of it as an ‘electronic purse’, where you can store any amount of money which you can use for making payments.

Your wallet is refilled with money when you make new sales, using the Viva Payments platform. Money collected from various means of payment (i.e. cards, cash, e-banking) are cleared on the next business date and automatically get debited usually to your “primary" Wallet, unless otherwise specified at the Payment Sources configuration.

When you register for a Viva Wallet businesas account, we automatically create a Wallet which we call ‘Primary’. This wallet cannot be deleted. Viva Payments gives you the option to create additional Wallets if you like.

Each Wallet gets assigned a unique numeric code and a friendly name defined by you. You can change a Wallet’s name as frequently as you like.

Wallets can be optionally linked to Payment Sources, so that revenues coming in from different Sources, are always debited to specific Wallets. This is handy, for cases where you operate multiple websites, or you simply wish to keep the funds received from different product or customer categories separately. 

Money can be transferred between your Wallets from your profile. You are not charged for making money transfers between your Wallets.

You can view, print or download a detailed online wallet statement for all transactions, by visiting the respective Wallet from your profile. Results can be narrowed down by setting additional search filters.