Viva Wallet

A cloud-based neobank with KYC problems

Viva Wallet is a fully cloud-based payment processor with branches in 23 countries across Europe.

They offer businesses of all sizes an opportunity to accept 25 payment methods with their innovative multi-feature Smart Android card terminals, provide card processing through their cloud-based infrastructure, Card-Present and Card-Not-Present acquiring services, merchants accounts, and debit card issuing.

In addition, Viva Wallet offers corporate accounts with local IBAN and a corporate Viva Wallet Mastercard.

Viva Wallet Holdings owns a Greek bank (VIVABANK SA) and an e-money institution and transfers all rights of these institutions to the entire EEA region in accordance with the Passport function based on the PSD II Directive.

The company was founded in 2010 by Panos Tsakos,  Haris Karonis, and Makis Antypas.

The bank has substantial customer support deficiencies, repeatedly criticized on various review platforms such as Trustpilot or Google Review.

A report uncovered by Documento reveals Viva Wallet‘s indirect involvement in the Fourthiotis scandal, a money-laundering affair that involves the Greek government.

Viva Wallet was used in this case to launder money, which was possible because the company had not done a proper KYC check to date.

In January 2022, J.P. Morgan announced it entered into an agreement with Viva Wallet Holdings Software Development S.A. (Viva Wallet) to acquire approximately 49%, subject to regulatory approvals. The financial terms of the transaction were not disclosed.

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Jurisdiction

Greece

Legal Entities

Viva Payment Services S.A.
Viva Wallet Holdings Software Development S.A.

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