Ingenico Eyes E-Commerce with Ogone Buy (Jan. 29, 2013)
Jan. 29, 2013
In a move POS terminal maker Ingenico said is part of its bid to become a “one-stop-shop” for multichannel payment solutions, the Paris-based company has entered a deal to acquire payment processor Ogone Partners for EUR360 million (US$485 million). Ingenico will incorporate Ogone’s 42,000-merchant online payments platform into its existing POS and mobile payments business.
“Combining Ogone’s leading position in the online space with our unique position in the point-of-sale and mobile space will enable us to address multichannel global payment solutions for both merchants and acquirers, first in Europe and then in high-potential geographies,” said Philippe Lazare, CEO, Ingenico. Brussels-based Ogone has operations in the U.S. and India, among other nations, and counts Kraft Foods Group Inc. and Ikea among its clients.
While the Ogone play was online-focused, Ingenico hasn’t lost sight of its in-store business, making several moves of late to strengthen its position in the brick-and-mortar arena. Last week, Ingenico was contracted by McDonald’s to provide contactless payment services at the fast food giant’s Ukraine locations. Last year, the company announced a deal with mobile commerce platform Isis under which Ingenico’s current and future POS product lines will integrate and support Isis. And the firm is working with PayPal to integrate the payment company’s retail POS technology into its terminals.