Viva.com has expanded its pan-European activation of Mastercard Move on its payments and banking platform to 24 countries, following the addition of the UK as an additional live origination market.
Viva.com expands near Instant Payment footprint
This step enables businesses across 24 European countries to send and receive near-instant payments regardless of currency and geography, enhancing operational efficiency and customer satisfaction.
The demand for near-instant payments is at an all-time high.
The European Central Bank reports a steady rise in consumer preference for near-instant transactions, while businesses gain improved cash flow and efficiency[i].
A recent study projects real-time transaction volume to hit $511.7 billion, with nearly one-third of all electronic payments worldwide being real-time by 2027[ii].
With Mastercard Move now fully operational on Viva.com, companies across multiple sectors – including e-commerce, gig economy, and hospitality – can unlock new growth opportunities with:
- Cross-Border Efficiency, sending funds in near real-time to any eligible Mastercard card across 24 European countries.
- Enhanced Consumer Connections, by issuing near real-time cash back payments or rebates in the context of loyalty programs.
- Faster Refunds & Payouts to help improve consumer experience and increase merchant loyalty
“The UK’s addition to our Mastercard Move-enabled network reinforces our commitment to delivering seamless, near real-time payments — an accelerating trend across Europe,” says Harry Xenophontos, Chief Partnerships Officer of Viva.com.
“By equipping businesses with a powerful alternative to UK Faster Payments and Eurozone’s SEPA Instant, we empower them with a full suite of payment and refund options, to thrive in a digital economy driven by speed, transparency, and convenience.”
Mastercard Move provides corporate disbursers, banks, non-bank financial institutions, and their customers with fast, secure money transfer solutions, both domestically and internationally.
The portfolio of solutions reaches more than 180 countries and 150+ currencies, with access to more than 95% of the world’s banked population.
“By leveraging Mastercard Move, Viva.com has been enabling businesses across Europe to make seamless, near real-time payments to consumers, from wage payouts to refunds and cashback,” concludes Pratik Khowala, Global Head of Transfer Solutions, Mastercard.
“The addition of the UK to its European footprint extends these benefits to even more businesses, helping them unlock new growth opportunities.”
[i] Study on the payment attitudes of consumers in the euro area (SPACE) – ECB
[ii] World Bank, 2023
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