Ingenico Receives orders for 50,000 payment terminals

Wednesday 27 April 2005 09:15 CET | News

Since the beginning of the year, business for Ingenico has been booming in Spain and Portugal. After obtaining four major certifications in the area of EMV migration, Ingenico received large-scale orders from CECA and SERMEPA, two major groups of Spanish banks.

The two groups have ordered over 50,000 electronic payment terminals (EPT) deliverable in the first half of 2005. All told, over a million EPTs will be affected by EMV migration. In Spain, the EPT installed base includes over 950,000 units (including 600,000 Ingenico terminals). The country boasts the highest ratio of EPTs to population in Europe, i.e. 1 terminal per 42 inhabitants, as opposed to a European average of 1 per 75. Portugal, a country totaling 125,000 terminals, is in line with this average. In both countries, EMV migration, initiated in 2004, has moved into high gear. The “liability shift” that went into effect on January 1, 2005 transfers full liability to merchants still using non-compliant terminals in the event of EMV card payment fraud. Ingenico won the necessary EMV approval from Spain’s certification bodies, CECA, SERMEPA and SISTEMA 4B. It is also the first global company –as well as the only one so far– to get SIBS certification in Portugal. As a result of these new advances in certification, Ingenico is now in a position to respond to the major migration needs of its clients in the Iberian Peninsula. With a 60-percent share of the total installed base of terminals in the region, the Group can look forward to high sales growth. A key upcoming task for Ingenico will be to make its 470,000 Banjo and Alba terminals EMV-compliant, either by replacing them with i5100s–the world’s top-selling terminal–or by connecting them to its i3050 PIN pads. SERMEPA, the CECA savings banks (Confederación Española de Cajas de Ahorros) and SISTEMA 4B are major groups of banks in Spain and the country’s leading payment terminal buyers. In addition, Ingenico serves the other large banks in Spain and Portugal. For all these reasons, the Group expects to book record orders in both countries in 2005.

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Categories: Payments & Commerce | Payments General
Countries: World
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