Ingenico

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Ingenico Group S.A.
Public
Traded asEuronextING
CAC Next 20 Component
IndustryFinancial services
Founded1980; 39 years ago (1980)
FounderJean-Jacques Poutrel and Michel Malhouitre
HeadquartersParis, France
Key people
Nicolas Huss, CEO
ProductsPayment terminals
Revenue2,643 million euros in 2018
Number of employees
7500
Websitewww.ingenico.com
Ingenico iCT250
Ogone
Subsidiary
IndustryFinancial services
Payment Service Provider
Electronic commerce
FateAcquired by Ingenico and renamed Ingenico Payment Services
FoundedBrussels, Belgium (1996)
Key people
Harold Mechelynck, Founder
Thierry Pierson, Founder
ServicesPayment Services
Electronic payment
ParentIngenico
Websitepayment-services.ingenico.com
The Ingenico iPP350 is a common card terminal in the United Kingdom

Ingenico is a French-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 software and related services, also software for merchants.

History[edit]

Ingenico Elite 510 terminal and separate keypad

Ingenico was founded in France by Jean-Jacques Poutrel and Michel Malhouitre in 1980. It is headquartered in Paris.

In 2008, after the merging with The Ingenium Group, Ingenico closed its R&D centre in Barcelona. This centre developed Ingenico's family of EFTPOS (Electronic funds transfer at point of sale). In 2008, Ingenico acquired 55% of Fujian Landi, a Chinese EFTPOS vendor.[1]

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.[2] 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 use the Pennies technology so their customers can add a micro-donation (1p-99p) to their bill when paying by card.

In July 2017, Ingenico bought Swedish payments group Bambora for €1.5bn.[3] This acquisition enables the group to accelerate the development of its Retail division through a direct-to-SMB channel in the Nordic countries and to deploy the successful model of Bambora in new markets.[4]

In October 2017, Ingenico expanded its direct-to-retail channel in Spain with the acquisition of IECISA Electronic Payment System.[5]

In December 2017, Ingenico acquired Airlink to expand its Asian reach.[6]

In August 2019, Ingenico Group has partnered with IKEA to facilitate digital payments on the retailer’s ecommerce platform in India.[7]

Ogone[edit]

Ogone was a Belgium-based online payment service provider and payment risk management company that has been part of Ingenico since 2013.[8] After the acquisition, Ingenico renamed the business Ingenico Payment Services. Ogone managed and secured online payments for card-not-present transactions (e-commerce, m-commerce, mail/telephone order, batch payments) and provided fraud prevention services. Ogone, was connected through certified links with more than 200 banks and acquirers and provided international, alternative and local payment methods in over 80 countries in Europe, Asia, Latin America and the Middle East and in 2014 had 77,000 clients. The company was headquartered in Belgium and had operations in India and regional offices in Belgium, the Netherlands, France, Germany, Austria, Switzerland, UK, United Arab Emirates and the US.[9][unreliable source?]

Ogone was founded as Abssys Consulting in 1996 by Mr. Harold Mechelynck and Mr. Thierry Pierson. In 2003 Ogone was Europe's first payment service provider to develop, integrate and certify a "3-D secure MPI module" (Merchant Plugin Interface), enabling remote payment.

In May 2010 the company received an undisclosed majority investment from US-based growth equity firm Summit Partners.[10] The purchase of EBS (E-Billing Solutions) in September 2011, at the time the second largest payment provider in India after CC-Avenues, was Ogone's first acquisition and its first move outside the European market.[11] With the addition of the EBS customer-base, Ogone became one of the world`s "largest" payment services.

On 29 January 2013, Ingenico announced an agreement for the acquisition of Ogone.[12] A share purchase agreement for the acquisition was executed two months later for 360 million euro.[13][14]

Ingenico Payment Services[edit]

On 4 June 2014 Ogone announced that Ogone is becoming Ingenico Payment Services, the Ingenico Group's flagship brand for digital payment services.[15] 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 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).

See also[edit]

References[edit]

  1. ^ "Ingenico takes stake in Chinese eftpos vendor Fujian Landi". Finextra. 26 June 2008.
  2. ^ John Roach (15 June 2009), "New Non-Profit To Take On Retailers' Payment Security Woes", Retail Solutions Online
  3. ^ "Subscribe to read". Financial Times. Retrieved 21 December 2017.
  4. ^ "Ingenico Group announces the closing of Bambora\'s acquisition". www.thepaypers.com. Retrieved 21 December 2017.
  5. ^ 4-traders. "Ingenico Group : expands its Direct-to-retail channel in Spain with the acquisition of IECISA Electronic Payment System | 4-Traders". Retrieved 21 December 2017.
  6. ^ "Ingenico acquires Airlink to expand its Asian reach". PaymentsSource. Retrieved 21 December 2017.
  7. ^ "Ingenico Group ties up with IKEA India to enable digital payments". The Economic Times. 23 August 2019. Retrieved 16 September 2019.
  8. ^ "Ingenico announces an agreement for the acquisition of Ogone". Ingenico. 29 January 2013.
  9. ^ "Ogone sets sights on the US". The Paypers. 10 February 2012.
  10. ^ "Summit Partners acquires majority stake in e-payment services firm Ogone". TechCrunch. 17 May 2010.
  11. ^ "Ogone Payment Services enters Indian market via EBS acquisition". The Paypers. 23 September 2010.
  12. ^ Mawad, Marie; Rahn, Cornelius (29 January 2013). "Ingenico to Buy Ogone for $484 Million in E-Payment Push". Bloomberg.com. Retrieved 22 October 2016.
  13. ^ "Ingenico announces the execution of the Share Purchase Agreement for the acquisition of Ogone". Ingenico. 4 March 2013.
  14. ^ Ingenico
  15. ^ "Ingenico restructures operations for online and mobile commerce". Finextra. 4 June 2014.

Further reading[edit]

External links[edit]