March 24, 2014
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. After its recent partnership with PayEx, the company has now been selected by CardConnect as their EMV chip-based payment acceptance technology and P2PE (point-to-point encryption) co-development partner to their 50,000 merchant customers in the USA.
Merchants are under intense pressure as they strive to juggle new forms of digital payment, protect their customer's information, comply with new PCI DSS 3.0 rules, and prepare for the upcoming shift to EMV cards. Never before has the payments industry faced such daunting challenges, all at once. The best way for merchants to excel here is to adopt secure, EMV-ready products and solutions that will reduce their PCI scope through encryption and tokenization, said CardConnect CEO, Jeffrey Shanahan. We are pleased to work with Ingenico to provide these services to our merchants. Ingenico shares our vision of what payments technology really means - solutions that secure cardholder data, are flexible across all sales channels, and can be applied to businesses of all sizes. This co-development partnership is a huge win for merchants, he added.
As a global leader in the payments industry, Ingenico is committed to working closely with payment processors in the U.S. to enable seamless payment acceptance across all customer touchpoints. We are excited to join forces with CardConnect in bringing Ingenico's P2P data encryption and EMV-ready payment solutions to their vast merchant customer base, said Ingenico NA’s President, Thierry Denis. Our market proven solutions will enable CardConnect to expand quickly into new business channels by providing merchants with secure payment processing services that fully meet their payment acceptance needs, today and tomorrow.'
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.
In March 2014, Ingenico entered into a partnership with PayEx 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.