Ingenico, the seamless payments company, entered into a strategic partnership with investment group, Fosun, in a bid to expedite development in China. Under the agreement, one of Fosun’s funds will invest into Ingenico Group’s Hong Kong-based holdings.
The partnership will allow Ingenico Group to combine its innovative technology and in-depth knowledge of the payments industry with Fosun’s investment capabilities and significant presence in China.
“With Fosun on board, we are entering the next phase of our development strategy in China with the right partner. This is a unique opportunity to capture China’s growth potential in payment terminals and beyond. I am confident that this alliance will place us at the heart of the Chinese payment ecosystem,” said Philippe Lazare, Ingenico Group’s chairman and CEO.
Ingenico Group has been expanding its presence in China for several years now. Landi, a Chinese subsidiary of Ingenico Group, has consolidated its Chinese presence to become, according to Ingenico, “the number one payment terminal provider in China”.
“We believe that this partnership will effectively combine our resources in financial services and Mobile Internet with Landi’s strong foothold , thus enhancing Fosun’s comprehensive financial capabilities while driving Ingenico Group’s growth in the electronic payment market in China,” said Guo Guangchang, chairman of Fosun.
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