Viva Wallet selects ClearBank as UK banking provider
Viva Wallet, a cloud-based payments processor, has selected ClearBank as its UK banking provider.
The Greek digital wallet start-up acquired Greek neobank Praxia in January. The acquisition followed worries that Praxia would dissolve due to a lack of sufficient funds.
Viva Wallet bought the bank with share capital it gathered from its Series C funding round. It said the deal was part of the company’s strategic plan to further expand its operations.
The fintech offers merchants across 17 European countries a local IBAN account, card and online acquiring services, as well as a ‘Viva Wallet Business Debit Card’.
It is a licensed e-money Institution for the whole European Economic Area (EEA), with offices from Warsaw to Athens to Helsinki.
In all, Viva Wallet offers businesses 24 different payment methods, which includes free ecommerce plugins.
It also offers next day settlement, and 0% card acceptance fees for customers who utilise both issuing and acquiring services.
Move to the UK with ClearBank
Its partnership with ClearBank will see it broaden the number of payment options it currently offers businesses in the UK.
Both Viva Wallet and ClearBank leverage Microsoft Azure, which will make it easier for the cloud-based firms to work together.
“My team and I are pleased to announce our selection of ClearBank as our banking partner in the UK,” says Viva Wallet’s CEO, Haris Karonis.
“As we accelerate as a business, we needed to ensure we had the right provider that could support our growth.”
Read next: Viva Wallet buys Greece’s first digital challenger Praxia Bank