Business

Payments company Ingenico records 64% growth in Latin America

Although the region places third for the company, Ingenico reported that Latam was the one with the most expressive growth among all regions where it operates

Payments company Ingenico logo in office wall
Ingenico's greatest growth in 2019 was in Latin America. Photo: Shutterstock
  • Latin America was the region with the most expressive growth among all places where Ingenico operates;
  • Ingenico specializes in providing the technology involved in secure electronic transactions.

Driven mostly by traditional payment machines and those with the Android operating system – offered to retailers and banks in the region – French-based Ingenico closed 2019 with €325 million in total revenues in Latin America, an increase of 64% compared to 2018. The information is from Mobile Time.

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Although the region places third for the company, behind Asia Pacific, with 463 million euros, and Europe, Middle East and Africa (EMEA), with 473 million euros; Ingenico detailed in its financial report that the Latin American market was the one with the most expressive growth among all regions where it operates.

As for global revenues, the company hit €3.3 billion in 2019, an increase of 11% YoY. Net profit increased by 10.5%, from €188 million to €208 million.