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Ingenico Group to acquire Spanish payment service provider

Paris-based Ingenico Group SA will acquire Spanish payment service provider IECISA Electronic Payment System, the business unit of technology consulting company Informática El Corte Inglés SA.

The transaction, which is expected to complete by November, includes a collaboration agreement with Informática El Corte Inglés to offer innovative payment solutions to merchants, Ingenico said Oct. 17. Terms of the deal were not disclosed.

The French group said it expects the acquisition to accelerate the deployment of omnichannel solutions on the Iberian peninsula. It also expects to gain market share through the combination of its in-store and online capabilities with the footprint and the assets of IECISA Electronic Payment System.

Around 360 million transactions are processed by the Spanish company each year from an installed base of 46,000 terminals deployed in various sectors, including retail, supermarkets, tourism, leisure or public administration.

The acquisition will also allow the French group to expand its presence and offering in the Latin America region by building on the existing portfolio of merchants and connections developed in Mexico, Ingenico said.