March 29 (SeeNews) - French financial technology company Ingenico said on Wednesday that it has acquired Bulgaria-based provider of software-only point of sale solutions Phos, extending its offering.
The deal continues Ingenico’s strategic expansion into new ways of serving its clients, the French company said in a press release without disclosing financial details of the transaction.
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Software-only point of sale solutions (SoftPoS) enable off-the-shelf smartphones or tablets to become payment terminals while complying with security standards.
Founded in 2018, Phos has developed a platform that enables any contactless form of card payment from the main international payment schemes as well as digital wallets such as Apple Pay and Google Pay and QR code-based payments. The solution complements Ingenico’s own payment platform and Phos is a natural complement to the French company’s business, according to the statement.
Ingenico is a provider of payments acceptance solutions. Its Payments Platform as a Service (PPaaS) allows clients to deliver payments and value-added services at the point of sale on Ingenico and non-Ingenico devices. The company was acquired by investment funds managed by affiliates of US private equity firm Apollo Global Management in September 2022.