J.P. Morgan Takes 49% Stake in Viva Wallet To Accelerate Greek Expansion

J.P. Morgan has agreed to purchase around 49% stake in Athens-based payments fintech Viva Wallet for $800 million. The deal is subject to regulatory approval, and the bank plans to use the stake to support lending to small and medium-sized businesses in the country.

Additionally, the bank closed the deal this week and is continuing an acquisition spree it accelerated in 2021. Furthermore, U.S. bank JPMorgan Chase is considering acquiring a 47% stake in Greek payments company Viva Wallet. The announcement was made today that it has agreed with Viva Wallet Holdings Software Development S.A. (Viva).

Viva Wallet is a cloud-based payments company that provides payment solutions to businesses and consumers. It offers card payments, invoicing, loyalty programs, and more. It also provides a digital wallet that allows users to pay through mobile devices. Additionally, Viva Wallet is a leader in the fintech industry and is helping to transform the payments landscape in Europe.

The primary focus of JPMorgan Chase & Co. (JPM) is to provide a wide range of financial services to individuals, corporations, institutions, and governments globally. The company offers consumer banking, investment banking, commercial banking, and asset management services. JPMorgan also offers private banking, wealth management, and commercial banking services. The company is committed to driving a diverse and inclusive culture for its employees and businesses. It is focused on advancing four universal pillars of opportunity: jobs and skills, small businesses and entrepreneurs, financial health, and communities.

In 2022, J.P. Morgan achieved several accolades. These include winning three awards at the Risk Awards 2022, including Derivatives House of the Year. Additionally, the bank was named the world’s best wealth manager in Euromoney’s 2022 private banking and wealth management survey. J.P. Morgan also won the best buy-side AI category at the BST Awards and was presented with the award for Best Wealth Planning at the CFI.co Awards.

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