Worldline Acquires Ingenico Group Worldline is set to accelerate the development of the European payments industry, further shaping new ways of paying, living, and doing business
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Global payments provider Worldline has acquired Ingenico Group for an undisclosed amount, in the process of making the largest European payment services provider, according to a press release.
The union of the two France-based companies will offer a wider assortment of digital payment competencies through incorporated payment solutions, improved technology, better innovation capabilities, and an extended worldwide footprint.
"This is a very exciting milestone for Worldline, specifically designed to decidedly reinforce the value proposition of our businesses. Having the scale and now global capabilities, we have reshaped our group entirely in order to support, now more than ever, our clients, merchants, and banks, in particular, enabling them to rely on state-of-the-art electronic payment services to accelerate their own growth as well as their digital transformation strategy," commented Worldline chairman and chief executive officer Gilles Grapinet, in the release.
"In doing so, we are more than ever committed to contributing to the sustainable growth of the societies we operate in while remaining at the highest possible level of social and environmental responsibility. Despite the difficult times we are all facing at the moment, I have never been this confident in the group's potential and future and in its 20,000 employees," Grapinet added.
Across Europe, the European payment service has a strong position in the Nordic countries and enhanced access to French banks and merchants. These geographical footprint and scale give the firm strong commercial advantages for multinational merchants, providing customers with enhanced offerings for cross-border payments that can boost their operational efficiency and their innovation agenda, according to the release.
Approximately 180,000 merchants within retail, hospitality, and the service sector can continue to rely on our proven services. For new customers, on-boarding will be faster and easier, thanks to digital solutions for SMEs and a hardware-independent acceptance platform, said a statement by the press.
"The acquisition of Ingenico by Worldline enables us to offer our customers a broader range of innovative solutions both in the physical and online payment space. With the coming together of the two organizations, both of which have deep knowledge in the payments space, we will be able to serve our customers' needs more comprehensively and seamlessly as they strive to offer a faster, more secure, and frictionless payment experience," stated Deepak Chandnani, managing director, Worldline South Asia, and the Middle East. "Worldline will now become the largest merchant acquirer and payment processor in Europe and is number 4 on a global scale. This deal will also enhance Worldline's leadership position in India. We remain committed to contributing to the ideal of a less-cash economy and our combined organization will be focused on achieving that goal."
With Ingenico's assets for retail, travel, health, and e-commerce that are complementary to Worldline's expertise in financial services, hospitality, petrol, luxury retail, and transportation as benefits from an extended global footprint and undisputed know-how in POS (point of scale) and payment acceptance.
To contribute to shaping the future of payments and supporting customers in leveraging the shifts in consumer behaviors related to COVID-19 and beyond, the company will further strengthen product innovation and reinforce its investment capabilities, with research and development investment in excess of 300 million euros. To shape new ways of paying, living, and doing business, Worldline examined the future of payments through personal payments terminal, new payment in-store, social and voice commerce, new payment platforms, data services, digital ticketing, to name a few.
At this time of great economic and social challenges, the new Worldline promises to accelerate the transition towards a less cash-reliant economy, whilst making sure this process is sustainable, responsible, and socially inclusive, said the statement.
Ingenico's global presence will be a platform for expansion into new markets, creating significant possibilities for business growth, to support its strong ambition to shaping the future of payments.
In 2019, Worldline produced a proforma revenue of €5.3 billion.
