Viva Wallet vs JPMorgan: A Legal Standoff

Hey Payments Fanatic!

The dispute between Viva Wallet and JPMorgan has reached a critical stage, with CEO Haris Karonis filing an injunction to halt further lawsuits and takeover attempts by the US bank. The legal battle stems from JPMorgan’s 48.5% stake acquisition in 2022, which later unraveled into a series of lawsuits between the two parties.

“It is regrettable that ever since becoming a minority shareholder in Viva, JPMorgan has acted like a fox in a henhouse rather than seeking to prioritise Viva’s growth and success,” Karonis told Sifted.

At the heart of the conflict is a clause stating that WRL, Karonis’ holding company, would forfeit its right to reject a takeover if Viva Wallet’s valuation fell below €5bn by July 2025. Allegations from both sides range from obstruction of growth to unauthorized business decisions.

JPMorgan has taken the fight to courts in both Greece and the UK, seeking damages and alleging breaches of shareholder agreements. Meanwhile, its bid to overturn a ruling limiting its acquisition rights has been rejected. Will JPMorgan step back, or will WRL be the one to yield?

If you’re interested in reading a bit about what’s been happening in Payments, keep scrolling!

Cheers,

Marcel

INSIGHTS

???? 80% of pay-by-bank users report better data security and lower cart abandonment. These benefits are especially important for retail, grocery, betting, ridesharing, telecommunications and utilities sectors, where user experience and security are top priorities. Despite the benefits, cost concerns remain a barrier to the wider adoption of pay by bank.

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Let′s dive in:

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GOLDEN NUGGET

Visa ???????????????? ???????????????????? — The new approach to cards, more payment options, more funding sources, one credential

In today’s fast-evolving digital landscape, Visa's Flexible Credential is redefining how consumers access funds. This innovative solution enables users to link multiple funding sources — like credit, debit, or loyalty points — to a ???????????? ?????????????? ????????????????????, allowing them to switch between accounts seamlessly during transactions.?

No more carrying multiple cards or worrying about balances on different accounts; a single card or digital credential can now serve as a gateway to multiple accounts, simplifying transactions for consumers and businesses alike.

? ?????? ???? ??????????

Visa Flexible Credential leverage Visa’s robust infrastructure to enable real-time access to various funding sources. For example, at checkout, if a primary account lacks sufficient funds, users can instantly switch to another linked source, such as loyalty points or a credit line. This flexibility is managed through the issuer’s app, giving consumers control over how they fund their transactions without having to start over or reauthorize purchases.

? ?????? ??????????????

1?? ???????? ???????????????? ???????????????? ???? ?????? ???????????????????? Consumers link various accounts — such as debit, credit, loyalty points, or installment options — to a single Visa credential.

2?? ?????????????????????? ???????????????????? At the point of sale (POS) or within an e-commerce platform, the user selects their Visa credential as the payment method.?

3?? ?????????????? ?????????????????? ?????? ???????????? ?????? If the initial, primary account lacks sufficient funds, the user can, through the app, immediately select an alternate funding source

4?? ????????’?? ???????????????????????????? ?????????????????? ?????? ?????????????? Visa’s backend processes the funding switch in real-time. This infrastructure is designed to route and authorize payments based on the selected funding source

5?? ?????????????????????? ???????????????????? Once the preferred account is selected, the transaction proceeds as usual, with funds drawn from the designated source.?

The Visa Flexible Credential is an impactful step toward a versatile, frictionless payment ecosystem. It’s a promising development that aligns with consumers’ growing preference for flexibility in managing finances — an essential edge in the competitive payments industry.

Source: Visa

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