ISG supports more than 17b transactions for clients annually with its Genius payments-as-a-service platform
ISG supports more than 17b transactions for clients annually with its Genius payments-as-a-service (PaaS) platform.
It claims its stack and scalable capabilities simplify the payments collection process, resulting in better on-boarding and customer experience.
J.P. Morgan is the first strategic investor in the company founded in 2004.
Through the partnership, J.P. Morgan will gain access to new payments opportunities in the Asia Pacific (APAC), where retail ecommerce sales are booming, according to ISG.
The bank recently announced it was expanding its merchant capabilities in APAC and will be live in seven markets by the end of the year.
Jason Tiede, global head of fintech and partnerships for Payments at J.P. Morgan, commented: “Combining our forces through this strategic investment will enable J.P. Morgan to deliver globally consistent and locally relevant payment solutions to our clients as they grow their businesses today and into the future.”
Madhav Kalyan, head of payments for APAC at J.P. Morgan, added: “The APAC payments space continues to evolve rapidly and this investment is testament to our commitment to help our clients digitalise, optimise and simplify their payment operations in one of the fastest growing e-commerce regions in the world.”
Adelia Castelino, co-founder and managing director of ISG, concluded: “This partnership is key to our next phase of growth, as we continue to invest in strengthening our products and expand in international markets.”
Haris Karonis, chief executive officer and co-founder of Viva Wallet, commented: “Viva Wallet’s mission is to change the way businesses pay and get paid in Europe with cutting edge technology, unprecedented agility and in-depth knowledge of the European payments landscape.”
Takis Georgakopoulos, global head of J.P. Morgan Payments, added: “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 (SMBs) and middle market merchant services clients.”
“The European payments landscape is fragmented yet large in terms of opportunity, with more than 17 million merchants ready to implement scalable payments solutions and this is a big focus area for added growth for J.P. Morgan Payments in the future.”
J.P. Morgan recently opened an office in Athens to support its growth in the country.