Enabling Technologies

Ingenico Enters into Partnership with PayEx for Retail and Transport Payments in Nordic

Mobile Payments in the U.S are set to reach $90 Billion in 2017 from $12.8 Billion spent in 2012, rising at a CAGR of 48% according to a report from Forrester. The latest to try and grab a share of this market seems to be Payment solutions Leader – Ingenico – and Payex. The two companies have entered into a partnership to deliver a fully integrated mobile payment solution in the Nordics.

  • The solution targets the Nordic retail and transportation sectors, where on-the-go payments are increasingly being required. 
  • This will also increase the range of PayEx terminals in use across the Nordics. 
  • The iSMP-based solution turns an iPod  or iPhone into a Chip & PIN,  PCI approved, mobile payment solution. 
  • The solution enables the seller to receive secure payment on-site to boost cash-flow and deliver a more convenient service to customers. 
  • A deal has already been secured with three major customers to supply the integrated all in one mobile POS and card payment terminals. 
  • Two of them are employed in transportation - Flygbussarna with airport coaches & Strömma with tourism and transport services. 
  • The third deals in retail with Hemglass, provider of mobile food delivery services all across Sweden.  

"It is pleasing to see that an increasing number of the major operators in the market are becoming aware of the new technology available to make payment processing more efficient. The fact that it secures the process and saves time is of a tremendous value for all users,” said Christian Johansson, CEO for OpenSolution Nordic AB. “At OpenSolution we like to think outside the boox and highly appreciate that PayEx is our partner in doing so. Adapted solutions make way to huge advantages and that is where we see the future."

"We are very pleased with the cooperation we have with Ingenico in conjunction with our POS partner OpenSolution. The business shows that PayEx delivers innovative solutions with high quality and security,” said PayEx Sales Manager, Lisa Forsström. “PayEx is the first and, so far, the only supplier of this kind of up-to-date payment solution in the Nordic market. We help our customers to deliver new and higher service levels to their customers," she added.

"This deal highlights Ingenico's continuing aim of working with partners to deliver fully integrated mobile payment solutions to businesses. More customers are looking for payment solutions that are not only secure, but also provide them with innovative solutions to help improve the efficiency of their sales,” said Ingenico’s, Jose Luis Arias. “We expect to see a significant uptake of mobile payment solutions like this across the Nordic market."

Other Partnerships: 

In November 2013, Ingenico had partnered with Stratix, an outsourcing Managed Mobile Money Services provider – to provide merchants with a completely managed mobile point of sale system. The combined offering of Stratix and Ingenico provides merchants and businesses with a completely managed mPOS. The platform comes with a support solution option which helps manage ‘per device’ monthly payment plan.

In February 2014, Ingenico partnered with Samsung to offer a joint mobile payment solution. This collaboration will enable retailers and merchants to benefit from a seamless mPayment system – bringing together Ingenico’s merchant mobile platform and card readers with Samsung’s mobile devices and tablets. The combination of Ingenico (financial institutions) and Samsung’s (telecommunications operators) channels to market will bring an end-to-end and secured mPayment to businesses of all sizes.

Chiraag Patel

Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading& Blogging with focus on New Innovation, Technology & Startups in the Payments Space.

Apply to Become a Contributor