Ingenico acquires Phos and extends merchant payment acceptance

Tuesday 28 March 2023 13:13 CET | News

Paytech Ingenico has announced the acquisition of software-based POS solutions provider Phos, extending its offering for merchant payment acceptance via smartphone.


As per the information detailed in the press release, the strategic purchase of Phos marks an additional step in Ingenico’s evolution towards software-driven services, after having been acquired by the Apollo Funds.

Ingenico, Phos acquisition details

Ingenico’s acquisition of Phos is believed to help complement its PPaaS (Payments Platform as a Service) offering, which enables clients, be those acquirers, payment service providers and independent software vendors, to design and provide payments and value-added services at the point of sale on both Ingenico and non-Ingenico devices.

Commenting on the deal, Brad Hyett, CEO of Phos advised that the company has noticed increased customer demand together with double-digit growth within the SoftPOS addressable market globally, and thus has the belief that Ingenico will assist in capturing more of the market and in exploring new use cases with clients worldwide.

Adding on this, Giulio Montemagno, General Manager of PPaaS for Ingenico stated that the company’s clients and partners have identified SoftPOS as being one of the biggest current opportunities, considering it a strategic option for engaging with new customer segments and developing and testing innovative use cases at scale, with minimal incremental investments in technology and distribution. Having this knowledge as its basis, Ingenico is looking to enable them to do that and is looking forward to bringing forth this opportunity to its clients following the Phos acquisition.

Paytech Ingenico has announced the acquisition of software-based POS solutions provider Phos, extending its offering for merchant payment acceptance via smartphone.

SoftPOS market and Phos’ offering

A player within the SoftPOS space, Phos provides highly flexible solutions to a multitude of acquirers and PSPs. SoftPOS enables off-the-shelf smartphones or tablets to become payment terminals while simultaneously being compliant with high standards for payment security, with its uses being both multiple and diverse. 

SoftPOS enables small merchants and solopreneurs to accept digital payments, whereas enterprise customers can provide their sales associates with tablet-type devices for in-aisle payment acceptance. Based on the information detailed in the announcement, the SoftPOS market is dynamic and fast-growing, with the installed base of SoftPOS terminals expected to increase from 3.1 million worldwide in 2022, to approximately 12 million in 2027.

Phos developed a SofPOS orchestration platform combining extensive connectivity with flexible user interfaces, which offers a full suite of services, including acquirer integration and certification as a service, providing its partners with connectivity options in a quick, easy, and secure manner. The solution enables all contactless forms of card payments from main international payment schemes, together with digital wallets like Apple Pay and Google Pay and QR code-based payments.

The company’s app is available for multiple user interfaces, providing dynamic branding based on the user profile, and a white-label version. Furthermore, Phos features app-to-app and web-to-app API-based integrations, together with SDKs for embedded payment acceptance.

For more information about Ingenico, please check out their detailed profile in our dedicated, industry-specific Company Database.

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Keywords: acquisition, M&As, payments , POS, SoftPOS, merchants, payment methods, payment processing, financial services, digital wallet, QR payments, contactless payments, mobile payments, fintech, shopping, ecommerce, PSP, platform, API, SDK
Categories: Payments & Commerce
Companies: Ingenico, Phos
Countries: World
This article is part of category

Payments & Commerce




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