Ingenico, the world's leading provider of payment solutions, announced today that its investment fund Ingenico Ventures has carried out a strategic investment of $6,5 million in Roam Data, a US‐based Mobile Application Service Provider (MASP).
ROAM Data provides the convenience of merchant transactions on mobile devices via its PCI DSS payment gateway, operated 24X7. ROAM's initial solutions target the large untapped market of mobile professionals and micro‐merchants - from outdoor vendors, plumbers and electricians to larger businesses with fleets of delivery drivers, installers or direct sellers (such as Avon, Mary Kay, Herbalife and Tupperware).
ROAM's patented technology enables it to be the only provider to dynamically deliver business and payment applications to service end‐users on their own mobile phones - from smartphones like iPhone, BlackBerry, Windows Mobile, Symbian, Android, to feature phones from Nokia, Samsung, LG, Motorola and others running J2ME and Brew.
This is the second investment in mobile payment made by Ingenico Ventures this year, after Transfer To, a Singapore‐based Payment Service Provider (PSP) Transfer To operates a global airtime remittance network interconnecting the mobile operators' prepaid users. Foreign workers can recharge the prepaid mobile phones of their relatives back at home just by sending a text message. Airtime remittance also enables migrants to send small value amounts: 200 million migrants remit $300 billion every year.
Philippe Lazare, Ingenico Chief Executive Officer, commented: "We are pleased with these two investments in mobile payment, as Ingenico is ideally positioned within the physical payment world and the digital payment world where mobile will increasingly become a key instrument and channel to market. In addition, these investments offer us an opportunity to maximize shareholder value and gain an extremely solid footing in new payments areas."