JP Morgan buys stake in Greek payments platform Viva Wallet

Latest News

JP Morgan buys stake in Greek payments platform Viva Wallet

By Will McCurdy

26/01/2022

JP Morgan is set to acquire a 49 per cent stake in Greek payments platform Viva Wallet.

The price of the acquisition was not confirmed, however sources reported by Reuters said that JP Morgan's investment will worth be over $1.15 billion.

Viva Wallet, founded in 2000, offers cloud-based payment services aimed at SMEs in 23 European countries.

The sources valued the Athens-based FinTech at $2 billion.

The news comes after the US banking giant announced earlier this month that it was set to spend $12 billion on technology in 2022.

Jamie Dimon, chief executive at JP Morgan, said the bank would need to “spend a few bucks” to beat competitors.

"We are very excited to make a strategic investment in Viva Wallet to support their vision to empower new growth and payments innovation targeted at European small and midsize businesses," head of global payments at JP Morgan Takis Georgakopoulos told Reuters.

Data trust in the AI era: Building customer confidence through responsible banking

In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.

Banking's GenAI evolution: Beyond the hype, building the future

In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.

Beyond compliance: Building unshakeable operational resilience in financial services

In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.

Unleashing generative AI: A force multiplier for financial crime teams

This FStech webinar, sponsored by NICE Actimize sees industry experts examine the revolutionary impact of generative AI on financial crime operations, and provides actionable insights to enhance your compliance strategies.