Ingenico makes 49% investment in South East Asian company Korvac

Friday 17 September 2010 10:18 CET | News

French provider of payment products and services Ingenico has made a 49 percent investment in Korvac Holdings, a Singapore-based payment service provider, worth EUR 17 million.

According to Jeremy Tan, CEO of Korvac Holdings, Ingenico’s investment will enable Korvac to continue to develop the payment industry within the South East Asian region, in a bid for both groups to forge new partnerships with banks and merchants located across the region.

Founded in 1999, Korvac operates in South East Asia and focuses on delivering payment services including payment infrastructure, transaction processing, loyalty management and consumer data analytics.

Most recently, Ingenico has entered a partnership with IRN Payment Systems, a US-based payment processing services company to provide the latter with its PCI-DSS certified ROAM mobile payments application along with the ROAMpay Swipe card reader that operates off the merchants phone audio jack.

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Keywords: Ingenico, Korvac, payments general
Categories: Payments & Commerce
Countries: World
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