Viva Wallet



Project number:


Business sector:

Telecommunications, Media and Technology

Notice type:


Environmental category:


Approval date:

26 Mar 2021



PSD disclosed:

07 May 2021

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project Description

EBRD financing of EUR 25 million to Viva Wallet alongside other technology and financial investors, including Tencent and Breyer Capital.

Project Objectives

Viva Wallet will leverage the new financing to accelerate the deployment of its "Tap-on-Phone" solution for in-store payments. "Tap on Phone" turns any Android device into a card terminal, thus allowing businesses to accept both contactless and PIN payments without the need for separate hardware. Viva Wallet is the first company to push this innovation across Europe to help merchants at scale do more and better business. For e-commerce payments, Viva Wallet is also launching its innovative "one-line-of-code-integration" Smart-Checkout, which adapts dynamically to cardholders' locality and preferences and vastly improves conversion rates.


Transition Impact

ETI score: 68

Competitive quality: The project will support the launch of a new product (Tap-on-Phone) that facilitate the Company's rapid growth and are expected to result in competitiveness improvements. The project also promotes entrepreneurship as the Company's services will support an exceptional number of SME merchants and start-ups with improved payment services offering.  

Integrated quality: The project will support the Company's expansion to new countries, thus supporting the Company's strategy of becoming a pan-European player.

Client Information


Viva Wallet Holdings Software Development S.A., ("Viva", the "Company", the "Group"), is a Societe Anonyme incorporated in Greece since 2011. The Group offers fully integrated payments across the entire payments value chain through its subsidiaries comprised of Viva Payments Single Member SA ("Viva Wallet"), a ticketing company ("Viva Services") and a bank ("Viva Bank").

Viva Wallet is the first European entirely cloud-based neobank 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.

EBRD Finance Summary

EUR 25,000,000.00

Total Project Cost

EUR 75,000,000.00


  • The Bank is financing a growth stage company that allows the Company to implement its pan-European expansion in an market environment affected by the pandemic.
  • EBRD's presence provides comfort to the Company, in light of its expansion to new countries and deepening of its offering domestically.

Environmental and Social Summary

Categorised C (2019 ESP) Environmental and Social Due Diligence (ESDD) was carried out by ESD based on the review of the completed ESDD Corporate Questionnaire and follow up communication with the client.  ESDD showed that the operations of the payment company and the project are not associated with significant environmental or social risks or impacts. The company is in compliance with EU legal requirements, and its HR & OHS policies are in line with EBRD PR 2&4. The company has a crisis management team, and a Covid-19 response plan is in place in line with the government's guidelines.  The company is required to ensure that the project complies with EBRD PRs as well as provide an annual environmental and social report to the Bank.

Technical Cooperation and Grant Financing


Company Contact Information

Dr Yannis Larios
(+30) 211 7700 000
(+30) 211 770 7000
Viva Wallet Group 18-20 Amarousiou Chalandriou Ave., Marousi 151 25

PSD last updated

19 May 2021

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

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Tel: +44 20 7338 7168

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The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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