J.P. Morgan has entered into an agreement to acquire a 48.5% stake in Athens-based payments fintech Viva Wallet for over 800 million euros, reports said Saturday.
My View
Following
Saved
1 minute readDecember 18, 20224:57 AM GMT+11Last Updated 2 hours ago
JP Morgan signs deal for stake in fintech Viva Wallet for over $800 million
Reuters
An employee walks past the Viva Wallet logo at the headquarters of the company in Athens
An employee walks past the Viva Wallet logo at the headquarters of the company in Athens, Greece February 8, 2022. REUTERS/Costas Baltas
ATHENS, Dec 17 (Reuters) - JP Morgan (JPM.N) has signed a deal to buy a 48.5% stake in Athens-based payments fintech Viva Wallet for more than $800 million, a person with knowledge of the matter told Reuters on Saturday.
The source, who spoke on condition of anonymity, said the deal was expected to be announced early next week.
Both JP Morgan and Viva Wallet declined to comment.
The deal, which was signed late Friday, will be officially announced next week, according to the same reports.
Cloud-based Viva Wallet, which operates in 23 countries across Europe, provides card acceptance services through its POS application, add-on Google Play devices and advanced payment systems in online stores.
About Viva Wallet
Viva Wallet is a leading European cloud-based neobank, delivering the future of payments, now. With presence in 24 markets, it is the payment institution with the largest footprint in Europe. Viva Wallet mission is to change the way businesses pay and get paid, offering truly unifying, yet localized, end-to-end advanced digital payments solutions and embedded banking services tailored to their needs. Latest innovations include "tap-on-phone Viva Wallet POS app" turning any Android device into a card terminal, and "Smart Checkout" payment gateway that can increase conversion by 21%. An advocate of sustainable cashless economy, Viva Wallet harnesses the power of their disruptive in-house technologies to provide digital payments services in 17 languages and 10 currencies, featuring over 30 payment methods.
