Viva Wallet announces new partnership focused on tackling the elimination of payment fraud and money laundering
Since its inception in 2000, Viva Wallet has become the first entirely cloud-based European neo-bank using Microsoft Azure and has since opened branches in 23 countries in Europe. Viva Wallet is known for its ability to provide businesses of all sizes with card acceptance services through innovative Smart Android terminals, their Viva Wallet POS app with Tap On Phone that turns any android device into a card terminal, and the new Smart Checkout for E-commerce, which adapts dynamically to cardholders locality and preferences and vastly improves conversion rates. Viva Wallet’s vision has always been aimed at creating a truly unified and safe European payments system that allows customers to go global while remaining local.
Today, Viva Wallet has announced its partnership with Fraudio, the Amsterdam-based next-generation payment fraud prevention & anti-money laundering AI-driven fintech. This strategic partnership provides Viva Wallet an edge in regard to how they deal with fraud currently and, more importantly, in the future. It guarantees that Viva Wallet’s customers both on the merchant acquiring and card issuing sides have access to a thoroughly secure payment infrastructure for all their operations.
Viva Wallet is empowered to divert its time and resources to its core business, while Fraudio takes over the fight against fraud & money laundering. Providing a flexible combination of automation and rich reporting, Fraudio enables Viva Wallet’s internal team with more agility in their decision-making process in regard to fraud & AML. The plan is to help prepare Viva Wallets’ operations for their estimated exponential growth in the coming years.
Headquartered in The Netherlands, Fraudio has developed the next generation of Fraud detection & AML with its patented AI technology. AI Machine learning is ideally suited to fraud detection as it is accurate, fast, and highly efficient – additionally, it learns and evolves automatically. Fraudio’s one-of-a-kind centralised AI brain is trained on billions of transactions and continues to grow daily.
“Fraudio’s team has been extremely helpful to our current growth by providing us the ability to focus our efforts in a much more accurate manner, in order to develop truly disruptive technology.” Said Viva Wallet’s co-founder Makis Antypas.
“Working closely with Viva Wallet has been enriching in many ways so far yet I want to highlight the sheer vision behind this company is so clear and you can see that with anyone you come in contact with from their teams. We are excited to have this opportunity to serve a company that beyond any doubt is, and will become much more, a predominant player in their space and any other space they set out to be in”. Added João Moura, Fraudio’s founder and CEO
About Viva Wallet
Viva Wallet is the first European entirely cloud-based neo-bank with offices in 23 European Countries. Created to change the way businesses pay and get paid, Viva Wallet offers businesses of all sizes acceptance-Card Present of Card not Present- of 24 payment methods, as well as business accounts with local IBAN and debit card issuing.
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