Viva Wallet

Innovation is at the core of today’s digital banking solutions. You’ve probably heard about digital gateways or open banking. We’re also sure you definitely know about cryptocurrencies. However, have you heard of neobanks? Or cloud-based neobanks?

Okay, if you’re confused, we get it. We’ll quickly explain it before introducing the payment method that operates like that. As you might infer from the name, neobank is a new type of financial service provider. Some even call them “challenger banks” as they offer a new way of e-banking that differs from the services provided by standard financial institutions.

Neobanks are digital-only financial platforms. It means they operate online without physical branches and offices. In other words, neobanks are fintech striving to streamline digital and mobile banking through various software solutions or apps.

Here you can play the best live casino games

.

5.0 rating

Read Review

Play Now

.

5.0 rating

Read Review

Play Now

.

5.0 rating

Read Review

Play Now

.

5.0 rating

Read Review

Play Now

.

5.0 rating

Read Review

Play Now

.

5.0 rating

Read Review

Play Now

Now, let’s introduce Viva Wallet – Europe’s first entirely cloud-based neobank. Viva Wallet allows online merchants to implement Smart Checkout and accept various payment methods available throughout Europe. Online casinos are among the online businesses offering Viva Wallet in their cashiers.

How does Viva Wallet work, do you need an account, and can you collect winnings from casinos? These are some of the questions we address in this article. Therefore, keep reading to find the answers.

About VIVA WALLET

Viva Payment Services Single Member SA, also known simply as Viva Payments, is the company behind Viva Wallet. The company is a digital-money institution licensed by the Bank of Greece to provide different financial services. However, the company doesn’t just operate in the Greek market. It also offers services in the UK and EEA (the European Economic Area).

Viva Wallet was founded by Haris Karonis, who initially established Realize S.A. in 2000 in Athens. This was a software development company. Then, in 2006, he set up Viva Services, a company offering travel services and IP telephony. Four years later, the company diversified and entered the e-ticket market. Finally, in 2011, Karonis and Makis Antypas introduced Viva Payments, which got an Electronic Money Association license in 2014.

Viva Wallet can be used for online gambling

In 2020, Viva Payments was available in 23 European countries, including Greece. The company also cooperates with Visa and Mastercard networks, which allows it to offer acquiring and issuing services. Moreover, Viva Wallet enables card acceptance services through Viva Terminal, Tap-to-Pay app, Viva Wallets remote payment tools, IBAN accounts and digital personal debit cards.

Finally, Viva Wallet Holdings established VIVABANKS SA, a subsidiary banking company in Greece. The fintech also has another e-money institution subsidiary, which meets the strict PSD II Directive, enabling the pass porting rights in the EEA countries.

The great thing about Viva Wallet is that it works with B2B clients and allows individuals to open free IBAN accounts and activate digital debit cards or order physical ones.

Target Markets & Payment Methods

Greek is the primary target market for Viva Wallet products. However, the company also provides digital financial solutions in 22 European countries. Here is the list of all the countries where you can use Viva Wallet (besides Greece):

Viva Wallet is a great choice for both businesses and individuals since it supports over 30 local and international banking methods. You’ll likely find your favourite payment provider through Viva Wallet, making it a convenient online casino banking option.

Now, let’s name some payment services the Viva Wallet network supports. The platform allows you to access various e-wallets, payment cards, and local services. These include Visa, Mastercard, Amex, Discover, PayPal, Google Pay, Apple Pay, MobilePay Online, Klarna, IRIS, iDeal, Giropay, and Trustly. As you can see, the payment portfolio is excellent.

It’s worth noting that although Vivas Wallet is available across Europe, only Greek gamers can use it at online casinos to fund their balances and cash out winnings.

VIVA WALLET Account

Viva Wallet is primarily a business-to-business company. In other words, online casinos must contact the sales team to open an account and incorporate its fintech solutions. However, the company also has products for regular B2C users. It actually works two ways: as a payment gateway and e-wallet. The latter requires you to register with Viva Wallet.

Casino players can open personal IBAN accounts and request digital debit cards through the Viva Wallet app. You can also sign up on the official website by selecting the Account icon in the top right corner. Or, simply click the “Create an Account” button when you open the page you want.

Pick your country from the drop-down list and enter your email. Next, fill in the registration form with your personal data like name, DOB, city of birth, nationality, address, and mobile number. Make sure to enter everything correctly, as the company will ask you to upload an official ID to confirm the details.

Finally, you must set up the password and accept the Terms and Conditions and Privacy Policy to complete the registration. You’ll receive a 6-digit code in an SMS. Enter it to finish the process.

If you want, you can open an IBAN account without going to the bank. You only need TAXISnet credentials and a government-issued ID. Open the Viva Wallet app and find“Create an account with no documents via EGov”. Use your TAXISnet to log in. The company will organise a video call where you’ll show the ID to verify your identity. It cannot be easier than that.
When you complete the setup, fund your balance by selecting one of the available payment methods in your country.

Moreover, you can create a digital personal debit card and link it to Apple Pay or Google Pay to make online and offline transactions with your mobile phone. Finally, you can also order a plastic card if you wish.

How to Deposit with VIVA WALLET?

Online casino deposits with Viva Wallet are easy. First, find the online casino with Viva Wallet in the cashier and sign up. Open the deposit section and select Viva Wallet to top up your casino account. Enter the amount you wish to send and click Deposit to open the portal. You can choose the preferred payment method through the gateway or select your Viva Wallet account to transfer the funds. Both ways, log in to your account and confirm the payment.

How to Withdraw with VIVA WALLET?

Viva Wallet allows you to cash out winnings from casino sites. The process is almost identical to depositing, so go to the cashier again. Find Viva Wallet, type in the withdrawal sum and check if everything is entered correctly. Then, submit your withdrawal request and wait for the money.

Transfer Times, Fees, and Security

Viva Wallet deposits are processed instantly. The casino will inform you about a successful transaction in a few moments. Cashouts, on the other hand, take more time. First, the online casino must review your payout request before releasing the funds. Most sites need 24-48 hours to handle the payout, but in some cases, this can be finished in an hour or so.
Viva Wallet doesn’t cut costs from your transactions at online casinos.

The casino operators also don’t charge you for using Viva Wallet. However, it’s worth noting that Viva Wallet has a list of fees they charge from businesses, meaning some of these costs might end up on your side. Therefore, we recommend visiting the banking page and reading the casino’s T&C to ensure you have the correct information.

We’ve managed to find details regarding some fees. For example, opening a personal account and issuing a digital debit card are free. But if you order a physical card, you’ll pay €4.99 for standard activation. Cash withdrawals from ATMs are also without processing fees.

We’ve mentioned before that Viva Wallet is supervised by the Bank of Greece and is also a licensed Visa and Mastercard acquirer. These companies ensure the PSP they collaborate with is fully regulated, meeting the highest PCI DSS Level 1 requirements. You can also add an extra layer of security with 3D Secure service and activate biometric authentication, like fingerprint authentication, to keep your sensitive data 100% safe.