Financial terms of the transaction were not disclosed. Founded in 2000, Viva Wallet is headquartered in Athens, Greece, and focuses on serving SMBs in 23 countries. The company built a proprietary, cloud-based payments platform that is able to offer an array of value added services to merchants including tap to device technology, merchant cash advance, bill pay, expense management, virtual debit card issuance, cash disbursement, gift cards, and loyalty.
JP Morgan’s payments business is focused on growing its omnichannel merchant acquiring capabilities offered to European SMBs. The strategic investment in Viva Wallet is a natural fit for JP Morgan’s Payments business – which combines corporate treasury services, trade finance, card and merchant services capabilities – to deliver an integrated payments experience to clients across the economy.
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