Fraudio Customer Story
Viva Wallet, the Greek Unicorn, onboards merchants more rapidly while keeping fraud at bay
The story of a Greek Unicorn
Viva Wallet is the first fully cloud-based, European merchant acquirer, processor and neobank. It has become one of the most prominent payment companies in Europe and provides a wide range of financial services to merchants and consumers. It has a digital wallet, terminals and soft-POS for merchants, a 100% cloud-powered merchant acquiring platform directly connected to the card schemes, a payment service provider and an issuing bank too (after buying Greece’s only online consumer bank in early 2021). In January 2022, JP Morgan announced that it was acquiring 49% of Viva Wallet, making it one of the fastest growing and most well backed FinTech unicorns in Europe.
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8x
Return on Investment
Summary success story
Viva Wallet, a Greek unicorn in the payment industry, uses Fraudio’s Merchant Initiated Fraud Detection solution to stop fraudulent merchants while facilitating Viva Wallet's hyper-growth at the same time.
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600%
Increased efficiency of the fraud team
3 Weeks
Fraud attempt are caught weeks earlier than legacy solutions
7x
Growth in transactions
*this result was obtained during an analysis over the course of the 2021-2022 period
