Ingenico

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Ingenico Group S.A.
Public
Traded as EuronextING
Founded 1980; 36 years ago (1980)
Founder Jean-Jacques Poutrel and Michel Malhouitre
Headquarters Paris, France
Key people
Philippe Lazare, CEO, Eric Brier, CSO
Products Payment terminals
Revenue 2.19 billion euros in 2015[citation needed]
Number of employees
6000
Slogan Secure transaction and payment solutions
Website www.ingenico.com

Ingenico is a France-based company, whose business is to provide the technology involved in secure electronic transactions. Its traditional business is based on the manufacture of point of sale (POS) payment terminals, but it also includes complete payment solutions and related services, also software for merchants.

History[edit]

Ingenico credit card terminal and separate keypad

It was founded in France by Jean-Jacques Poutrel and Michel Malhouitre in 1980. It continues to be based in France with its headquarters in Paris.

In 2008, after the merging with SAGEM Sécurité, Ingenico closed its R&D centre in Barcelona. This centre has developed Ingenico's most successful family of EFTPOS (Electronic funds transfer point of sale). More than three million units were sold worldwide in 2007.[citation needed]

In 2009, Ingenico partnered with its two largest competitors, Hypercom and VeriFone, to found the Secure POS Vendor Alliance, a non-profit organization whose goal is to increase awareness of and improve payment industry security.[1]

Ingenico acquired German payment processor Easycash in 2009 for €290 million EUR.

In 2011, Ingenico integrated Pennies, the electronic charity box, into one of their mobile Chip and PIN payment terminals, allowing retailers to 'switch on' the Pennies solution so their customers can add a micro-donation (1p-99p) to their bill when paying by card.

On January 29, 2013; Ingenico announced publicly that it had acquired Ogone, a Belgian online payment provider, for 360 million euro.[2] India's second-largest payment gateway, EBS (E-Billing Solutions Ltd.), had just been taken over by Ogone when Ingenico went public with the news of the acquisition.[3]

On June 4, 2014, Ingenico announced publicly that it would change its company name to Ingenico Group. All activities will be structured around three major brands: Ingenico Smart Terminals, Ingenico Mobile Solutions and Ingenico Payment Services. Ingenico Payment Services groups the activities of different acquisitions made by Ingenico over the past years, including Ogone, TUNZ, easycash, easycash Loyalty Solutions and AXIS (not to be confused with India's AxisBank).

In January 2015, Ingenico announced products to allow merchants to accept payment by Bitcoin via its terminals.[4]

hydro.net controversy[edit]

EBS payment gateway system was targeted for exploitation at midnight of the 23rd/24 October 2013, the transaction which was disrupted was the renewal for hydro.net domain, which had been transferred to an India-based webhost, the registrar of record being PDR Ltd. of the Directi Group. Directi Group systems were also targeted/abused over the course of the misappropriation of hydro.net which took place between the 20th of December 2011 and the 10th of February 2014. ICANN has also been found to have knowingly failed to intervene despite their knowledge of the cybercrimes and their EAC method of resolution (they were notified of the Urgent Immediate Intervention requirement by the legitimate registrant on the 15th of October 2014).

Although Ingenico`s EBS payment gateway was used in the first cyberfraud,[5] hydro.net`s Rightful owner wired a second payment, cash, in a bank-to-bank wire transfer with Standard Chartered as the intermediary. The Rightful owner was not alerted to the cybercrime until the 3rd of January, 2014, via Skype IM, directly after which he discovered he had been locked out of his hotmail account due to repeated intrusion attempts, and his gmail account had likewise been hacked, activating the "secret question" security function. Hydro.net`s rightful owner then reported the incident at Microsoft headquarters on the 8th of January, and informed the CEO of the Directi Group by fax from Japan on the 9th. Ingenico and EBS have refused to audit the compromised transactions.

Products[edit]

Clients[edit]

References[edit]