Ingenico makes strides in China

Source: Ingenico

Ingenico (Euronext : FR0000125346 - ING), leading worldwide provider of payment solutions, today announces new successes of its affiliate in China, Fujian Landi. Bank of China (BOC) has resumed in April its 2011 purchase plan of POS terminals, confirming Landi as its first supplier.

Smaller banks such as CMSB (China Minsheng Bank) have also started to develop POS acquiring services. Landi has been chosen as the most important provider of CMSB.

Thanks to its on going relationship with the traditional bank market, in particular Agricultural Bank of China, BOC and UMS, Landi is the largest provider in the secure electronic payments industry in the country with an estimated market share of circa 35%. Its customer base also include ICBC, CCB, CMBC, BoCom or CITIC.

Landi's products mainly cover POS terminal, IC card readers, financial unattended terminals and payment-related software. In addition, the company is developing mobile payment solutions in cooperation with China Telecom and China Mobile.

Landi is experiencing a very strong start in 2011", declared Mr. Cai, Chief Executive Officer of Fujian Landi, "Our company benefits from a strong customer support and a wide range of innovative products that match the needs of the Chinese merchants".

 

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