News

JP Morgan acquires 49% stake in Viva Wallet

Tuesday 25 January 2022 12:00 CET | News

JP Morgan has entered into an agreement with Viva Wallet, a European cloud-based payments fintech company, to acquire an ownership stake of approximately 49%.

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.

The company recently unveiled its brand for SMB payments, Chase Payment Solutions, in the US and the strategic investment in Viva Wallet will set the stage to develop future international products and services across European SMBs.

More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: acquisition, Viva Wallet, JP Morgan, cloud payments, SMEs
Categories: Banking & Fintech
Companies:
Countries: World
This article is part of category

Banking & Fintech






Industry Events