J.P. Morgan completes acquisition of 48.5% of Viva Wallet

J.P. Morgan announced the completion of the acquisition of 48.5% of Viva Wallet (Viva Wallet Holdings Software Development S.A.).

According to the American company, the completion of this transaction reinforces the commitment of J.P. Morgan to its European payments clients, as well as to Greece and the thriving technology and payments ecosystem in the country. In November, J.P. Morgan has announced plans to open a new payments innovation lab in Athens as a research and development headquarters for its payments business.

“The Payments sector of J.P. Morgan – which combines the capabilities of corporate cash services, trade finance, cards and merchant services – provides a comprehensive payments experience to customers across the spectrum of the economy. Operating at the cutting edge of payments innovation, J.P. Morgan is focused on helping companies of all sizes succeed in an era of digital transformation and evolving customer expectations,” it added.

“We are excited to complete this important strategic investment for the company,” said Takis Georgakopoulos, head of payments at JP Morgan. “We believe that the European payments area represents an important growth opportunity in the coming years. With its strong platform and omni-channel merchant acquisition capabilities, Viva Wallet is poised to leverage its leadership position among small and medium-sized businesses in the region. We are happy to be a part of their journey,” he added.