The partners' task is to create a "end-to-end corporate solution" that combines the omnichannel payments technology of Viva with the array of banking services designed specifically for sole traders and SMEs by the Crédit Mutuel Group subsidiary.

In a statement, Beobank claims to serve 765,000 customers, and the result of this combination is meant to “hurry the adoption of digital payments among Belgian SMEs” and provide “unparalleled efficiency and cost-effectiveness” and “a comprehensive business proposition that supports growth”.

The collaboration will leverage Viva's "payment technologies, streamlined registration process, and transparent pricing," according to Dirk Verhaeghe, head of retail products at Beobank. Verhaeghe says this integration is the result of "conversations with our professional customers" and will mark "a significant step forward in Beobank's commitment to enhancing its services for SMEs and self-employed individuals."

Chief partnerships officer Harry Xenophontos of Viva, whose purview largely includes softPOS technology, smart checkout features, marketplace solutions, and account and debit card services, characterizes the move as “an integral part into our expansion strategy”.

"Extended distribution channels that make our innovative omnichannel payment solutions easily accessible to every business around Europe" is the foundation of this plan, he continues.

Thanks to this tactic, Viva Wallet, the company's UK affiliate, was able to get Financial Conduct Authority (FCA) authorization as an e-money institution (EMI) in October.

The authorisation "complements the breadth of our technological and operational capacity," according to Viva Group founder and CEO Haris Karonis, who also noted that the company was working to develop "robust fully cloud-based, innovative payments technology, combined with a localised compliance and internal controls environment."