For the purpose of these Terms, the following words and phrases shall have the meaning attributed to them herein below.
PAYER: The natural person or legal entity which gives anyhow a payment order (indicatively through the payment account that he holds, etc)
PAYEE: The natural person or legal entity who is the intended recipient of funds which have been the subject of a payment transaction.
PAYMENT TRANSACTION: An act, initiated by the payer or on his behalf or by the payee, of placing, transferring or withdrawing funds, irrespective of any underlying obligations between the payer and the payee.
Payment Order: An instruction by a payer or payee to VIVA PAYMENTS requesting the execution of a payment transaction.
VIVA WALLET Payment Account: The account held in the name of the User with VIVA PAYMENTS, used for the execution of payment transactions, as per EU Directive 2015/ 2366.
COLLECTION TRANSACTION: A transaction which is attempted and/or executed through VIVA WALLET account and/or other VIVA Payment’s Payment Instruments in the framework of which the VIVA WALLET account of the User as payee is credited with electronic money corresponding to the monetary equivalent to which the User is legally entitled, as further specified by VIVA PAYMENTS.
PAYMENT TRANSACTION: A transaction which is attempted and/or executed through VIVA WALLET account and/or other VIVA Payment’s Payment Instruments in the framework of which the User, as payer, pays an amount to a third party, regardless of the reason, with the monetary equivalent of which is debited to User’s VIVA WALLET account, as further specified by VIVA PAYMENTS.
LOADING TRANSACTION: A transaction attempted and/or executed by the User intended to the issuance of electronic money by VIVA PAYMENTS, by paying to the latter an amount equal to the monetary value to be issued, and to be further debited to VIVA WALLET payment account.
REDEMTION TRANSACTION: A transaction attempted and/or carried out by the User in order to redeem part or all of the electronic money debited as Available Balance in User’s VIVA WALLET account, through collection of the respective amount and decrease the Available Balance accordingly.
DIRECT DEBIT: a payment service for debiting User’s VIVA WALLET payment account, where the payment transaction is initiated by the payee on the basis of the consent given by the User to the payee, to the payee’s payment service provider or VIVA PAYMENTS, as User’s payment service provider,
BLOCKED AMOUNT: Any electronic money amount, debited in User’s VIVA WALLET account, which is blocked by VIVA PAYMENTS as security of the same and/ or of third-parties receiving or providing payment services (e.g. dispute of a transaction, pending User’s Verification- Identification process e.t.c.) which the User is not entitled to use for his transactions until released.
BLOCKED TRANSACTION: Any transaction the amount of which is not credited and therefore not available to the beneficiary due to the fact that (a) the transaction is disputed and/ or (b) the transaction is investigated by VIVA PAYMENTS and/ or by any entities cooperating with the latter or any competent third party for any reason whatsoever and/ or (c) the procedure for the certification of the identity of the respective payee or payer is pending, and for as long as these conditions continue.
PENDING TRANSACTION: Any Transaction for which completion is pending.
USER: Any natural person (over 18 years old with full capacity to transact) or legal entity signed in and using the Services as provided by VIVA PAYMENTS from time to time under the present Terms, either as payer or as payee.
SERVICES: The electronic money issuing and redemption services, as well the payment services provided by VIVA PAYMENTS to the Users, as specified and notified from time to time by VIVA PAYMENTS.
BALANCE: The overall monetary equivalent to electronic money, which is displayed as loaded to VIVA WALLET payment account, which, apart from the Available Balance, also includes all Pending Transactions, Blocked Amounts and any potential non-cleared credits or debits for any reason whatsoever;
AVAILABLE BALANCE: The monetary equivalent to electronic money debited in any VIVA WALLET payment account, which is available for the conclusion/ execution of Payment and Redemption Transactions.
PRIVATE USER: Any User making use of the Services to perform transactions that do not fall within the scope of the User’s professional/ business activity.
PROFESSIONAL USER: Any User making use of the Services to perform transactions that fall within the scope of the User’s professional/ business activity.
CONSUMER: as defined in L. 2251/1994 as in force. Any very small enterprises as defined below are considered as Consumers.
VERY SMALL ENTERPRISE: Any enterprise that, when accepting the terms hereof, shall fall within the scope of article 2 para.9 of L. 2251/1994.
PAYMENT INSTRUMENT: any personalised device and/ or set of procedures agreed between User and the payment service provider and used in order to initiate a payment order.
VIVA PAYMENT INSTRUMENT: the payment instrument defined in EU Directive 2015/ 2366 as effective and which is issued by VIVA PAYMENTS and may be incorporated in an electronic, digital, paper or magnetic medium, or even be intangible (indicatively and not exclusively VIVA debit cards).
REPEATED TRANSACTION ORDER: any order given by a User to VIVA PAYMENTS authorizing the latter to conclude specific transactions repeatedly, which the User has preapproved as per their amount, or/and their type or/ and their frequency.
VIVA PAYMENTS BANK ACCOUNT: The Bank Account kept by VIVA PAYMENTS at an EEA well known credit institution, which is notified in writing to the User for the purposes hereof.
VERIFIED BANK ACCOUNT: The active bank account kept in the name of a User at a well known Greek credit institution, and regarding which the User has been identified as legal beneficiary, in accordance with the procedure set out in the Terms.
VERIFIED PAYMENT CARD: An active, prepaid, credit and/or debit payment card, issued by a well known organization of the Financial System in cooperation with Card Associations (VISA & MASTERCARD), in respect of which the User has been identified as legal beneficiary and holder, in accordance with the procedure set out in the Terms.
VIVA SPOTS: Physical facilities of VIVA PAYMENTS or VIVA Representatives or via which electronic money issued by VIVA PAYMENTS is distributed.
Cookies: information files stored in the user’s device by the web server, so that they may be easily recovered when the User visits the relevant website/webpage, in order to facilitate the provision of respective services.
CONSUMER: as defined by Law 2251/1994, as in force from time to time.
REFUND TO USER: The request of any User made under its capacity as payer to be refunded with the electronic money paid in the framework of a Payment Transaction.
REFUND FROM USER: Any request made by any third party payer to be refunded with the amount paid to the User in the framework of a Collection Transaction.
VIVA REPRESENTATIVES: Natural persons or legal entities providing services in the name of VIVA PAYMENTS who has been duly approved and registered as per this activity by the competent supervisory authority.
PERSONAL DATA: as defined in the General Data Protection Regulation 2016/679, as adopted and applying in Greece and any other relevant applicable European law.
VERIFICATION: Certification process of identification details provided by the User.
IDENTIFICATION: The procedure followed in order to confirm the data entered and notified by the User in the context of the present agreement, regarding the User’s identity, contact details and attempted Transactions.
STRONG USER AUTHENTICATION: an authentication based on the use of two or more elements categorized as knowledge (something only the user knows), possession (something only the User possesses) and inherence (something the User is) that are independent, in that the breach of one does not compromise the reliability of the others, and is designed in such a way as to protect the confidentiality of the authentication data.
PERSONALISED SECURITY CREDENTIALS: Personalized features provided by VIVA PAYMENTS to User for authentication purposes.
TRANSACTION CAP: The amount equivalent to the Transactions which the User may conclude without a prior special authorization or/ nor any further procedure for the certification of the User’s verification details being required by VIVA PAYMENTS.
PAYMENT CARD: the tangible or digital credit, debit and/ or prepaid payment instrument allowing the legitimate holder to conclude Payment Transactions and which has been issued by well known organizations of the Financial System.
VIVA E-MONEY CODE: The special, prepaid, electronic, numerical code, issued by VIVA PAYMENTS, in which e-money of specific monetary value is stored, and with which Users may conduct Loading Transactions by crediting code’s equivalent e-money amount to their VIVA WALLET.
Acquiring of payment transactions: Payment service provided by VIVA PAYMENTS to the User as payee to accept and process payment transactions, which results in a transfer of funds to the User.
Issuing of payment instruments: Payment service by VIVA PAYMENTS to the User as payer, to provide User with VIVA payment instruments to initiate and process User’s payment transactions.
PAYMENT INITIATION SERVICE PROVIDER: payment service provider pursuing payment initiation services as business activities.
PAYMENT INITIATION SERVICE: A service to initiate a payment order at the request of the payment service user with respect to a payment account held at another payment service provider.
ACCOUNT INFORMATION SERVICE PROVIDER: payment service provider pursuing account information service as business activity.
ACCOUNT INFORMATION SERVICE: an online service to provide consolidated information on one or more payment accounts held by the User with either another payment service provider or with more than one payment service provider.