Ingenico Group, a payment processing company from Paris, France, reported a strong increase in its business performance during the first half of 2014, according to recently released financial statements from the first two quarters ending on June 30, 2014.
Ingenico Group, which announced two months ago that it was changing its name from “Ingenico,” reported revenue totaling €703 million EUR, a 7 percent increase. Broken down, the total revenue included €585 million generated by their Payment Terminal business (which includes equipment, services and maintenance) and €118 million generated from their Transaction Services.
Ingenico Group offers payment solutions primarily in Europe, with over 110,000 of its terminals on the continent. In total, they operate in 125 countries with 22 million POS systems installed throughout the world.
These types of systems accept credit and debit cards; the most popular of these is Visa, followed by MasterCard, which accounts for 32.8 percent of spending volume worldwide.
Ingenico Group’s growth was concentrated in three areas: Smart Terminals, Payment Services, and Mobile Solutions. Mobile payments, especially, are taking the payment processing world by storm as they allow retailers and other businesses to use smartphones and tablets to accept credit card payments from customers.
The company also reported strong organic increases across all regions of the globe. They especially saw their business grow in Latin America, even in countries such as Venezuela and Argentina, which have faced economic difficulties.
In Brazil, the Group experienced double-digit growth, and they focused on continuing their expansion across Latin America, especially in Mexico and Colombia.
Ingenico Group also posted high growth rates in Asia, especially China, and Europe and North America also.
Among the other achievements for the first quarter for the Group were negotiations to acquire GlobalCollect, a global online payment processor and a successful refinance of its new five year bank loan for €600 million.