Connect with us

Business

E-payment business to welcome Europe’s largest payment provider with Wordline-Ingenico deal

Published

on

Wordline-Ingenico deal
Wordline-Ingenico deal, Photo by Christin Hume on Unsplash

On 30 October 2020, Global E-payment business Worldline released a statement acquiring the Ingenico group. After receiving the European Commission’s clearance, this deal received a final nod.

This deal has been globally regarded as a merger that will enhance digital payment capabilities.

The CEO of Worldline, Gilles Grapinet, said: “Having scale and now global capabilities, we have reshaped our group entirely to support, now more than ever.”

Worldline spokesperson reported that the acquisition agreement was finalized at a valuation of $8.6 billion.

The superior services offered by Worldline include omnichannel solutions, digital banking, and online payments. Its service terminal includes 1 million merchants, 1,000+ financial institutions over more than 30 countries worldwide. On the contrary, the Ingenic business is a global leader in manufacturing Point of Sale terminals.

The future of a thriving payment business

The French payment firm Worldline is the fourth-largest player in the domain of payment services with a revenue of $6.18 billion. However, after Ingenico’s acquisition, Worldline will climb up to being Europe’s largest E-payment service provider.

Now the merchants, clients, and banks can multiply their growth through electronic payment services by digitally transforming themselves.

Gilles Grapinet said in a press release: “Despite the difficult times we are facing at the moment, I have never been this confident in the group’s potential and its 20,000 employees.”

This mega-deal has a significant impact on US markets for merchant acquiring and processing business. Ingenico already has the benefit of US merchant presence, which gives Worldline the advantage of growing its E-commerce transactions.

The combined synergies of both these businesses will leverage the growing digital payments landscape.

On one side, Worldline is among the best service providers for offline merchants, while Ingenico works towards payment gateway. Hence, both will expand offering through cross border services for small scale businesses and international presence.

After the acquisition, Worldline will retain the employees of Ingenico and work towards operational expertise. Also, they will continue working for offline space apart from leveraging the online space.

To put it briefly, Worldline and Ingenico’s combined strengths will develop an omnipresent digital payment ecosystem catering to online and offline merchants with new expertise from each other’s businesses.

An avid learner having infatuation for numbers and finance. Also, an individual with unfiltered opinions who likes to mix the metrics of both professionalism and creativity.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending