Italian ABI Grant Ingenico EMV Approval

Ingenicos i 5100 and i 5300 countertop terminals have been approved by ABI-Progetto Microcircuito, the Italian Banking Authority for payment systems.Coming after an EMV Pilot started last year by ABI, the ABI approval of the Ingenico terminals gives the EMV “green light ” for all the Italian banks, who can now look forward to an easier and more secure migration. The migration milestones for EFT-POS terminals have been planned by ABI: 30% by December 2005, 35% by December 2006 and 35% by December 2007, opening up significant growth for Ingenico. The migration will involve the upgrade or the replacement of about 800,000 terminals by the end of 2007. As EMV will also encourage merchants to accept card payments, the installed base will grow to around 1 million over this period. With more than 220,000 terminals installed on the Italian market, Ingenico has achieved the Number 2 position in less than 3 years. Since the beginning of the year, more than 30,000 new i Series terminals have already been installed in Italy for banking, petrol and other card applications. With the EMV migration, Ingenico is responding to new needs and launching multi-application, Internet-capable devices able to increase the number of transactions at the point of sale and to provide CRM tools to major brands, thus generating more value for its customers.