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Ingenico Acquires Phos

The deal continues Ingenico’s strategic expansion and complements its PPaaS (Payments Platform as a Service)

Ingenico Acquires Phos

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The payments acceptance solutions provider Ingenico has acquired a 100% stake of one of the leading SoftPOS providers Phos, extending its offer for merchant payment acceptance via smartphone.

The acquisition is the next logical step in Ingenico’s strategic expansion, adding new ways of serving its clients. The SoftPOS solution complements Ingenico’s PPaaS (Payments Platform as a Service).

PPaaS enables clients, e.g. acquirers, payment service providers or independent software vendors, to design and deliver payments and value-added services at the point of sale. Meanwhile, the SoftPoS technology enables off-the-shelf smartphones or tablets to become payment terminals, expanding the list of devices able to support the PPaaS solution.

Phos’ orchestration platform includes acquirer integration and certification as a service. Besides, the solution enables any contactless form of card payment from the main international payment schemes, supports digital wallets such as Apple Pay and Google Pay, and allows conducting of QR code-based transactions. Moreover, Phos has its proprietary Software Development Kit (SDK) officially approved by Visa.

As the trusted technology partner for merchants, banks, acquirers, ISVs, payment aggregators and fintech customers, Ingenico will help Phos capture more of the global SoftPoS addressable market and explore new use cases.

At the same time, Ingenico will benefit from the recent acquisition, as it provides the company with an opportunity “to engage with new customer segments and develop and test innovative use cases at scale, with minimum incremental investments in technology and distribution.”

SoftPOS is a fast-growing market. Thus, the installed base of SoftPoS terminals is expected to grow from 3.1 million worldwide in 2022 to almost 12 million in 2027.

 

Nina Bobro

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https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.