JP Morgan buys stake in Greek payments platform Viva Wallet

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.

    Share Story:

Recent Stories


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: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.

Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.