Ingenico has acquired of 100% of Phos, a provider of software-only Point of Sale solutions (SoftPoS) extending its offer for merchant payment acceptance via smartphone.
Phos is a premier player in the fast-evolving SoftPoS space, providing “best-in-class highly flexible solutions to a large number of acquirers and PSPs”.
SoftPoS enables off-the-shelf smartphones or tablets to become payment terminals while complying with the highest standards of payment security.
The strategic purchase of Phos is a next step in Ingenico’s evolution towards software-driven services, following recent acquisition of Ingenico by the investment funds managed by affiliates of Apollo Global Management in September 2022.
Uses for SoftPoS are multiple and diverse
These include enabling small merchants and ‘solopreneurs’ to accept digital payment in a world where cash payments are declining.
However, SoftPoS also allows enterprise customers to equip their sales associates with tablet-type devices for in-aisle payments acceptance.
SoftPOS is a dynamic and fast-growing market. The installed base of SoftPoS terminals is expected to grow from 3.1 million worldwide in 2022 to almost 12 million in 2027.
This deal continues Ingenico’s strategic expansion into new ways of serving its clients and reinforces it’s role as the ecosystem enabler of choice for the payments industry.
The solution complements Ingenico’s PPaaS (Payments Platform as a Service), which enables clients, such as acquirers, payment service providers and independent software vendors, to design and seamlessly deliver payments and value-added services at the point of sale.
In line with this ‘device agnostic’ strategy, Phos is a natural complement to Ingenico’s PPaaS business.
“Our clients and partners around the world have clearly identified SoftPoS as one of the biggest opportunities they see right now,” says Giulio Montemagno, General Manager of PPaaS for Ingenico.
“They consider SoftPoS a strategic option to engage with new customer segments and develop and test innovative use cases at scale, with minimum incremental investments in technology and distribution.”