Ingenico restructures; completes TechProcess acquisition

Source: Ingenico

Ingenico Group (Euronext: FR0000125346 – ING) today announced the creation of two global customer-centric Business Units that address the distinct needs of physical and online retailers as well as banks & acquirers.

It also announces a new appointment in its North America leadership. With these organizational changes1, Ingenico Group is well equipped to expand its omnichannel capabilities globally.

Business Management: structure and Executive Committee members

The global Retail Business Unit will help large retailers and e-merchants follow consumers across sales channels, expand their cross-border sales and increase their conversion rate. It is uniquely positioned to provide a unified customer experience across channels with a combination of payment terminals, in-store and online payments services and omnichannel payment solutions. The Retail Business Unit holds global end-to-end responsibility for designing, building, selling and operating its in-store, online and omnichannel payment solutions. It will expand its global sales through its regional commercial teams.

Pierre-Antoine Vacheron is named EVP, Retail Business Unit. A seasoned executive, he previously was leading the ePayments business and has been instrumental in creating rapid growth in this area. Jacques Behr is named EVP, Deputy for the Retail Business Unit. In particular, Jacques will focus on developing a global go-to-market strategy across the SBU’s product lines. Jacques has a strong track record of expanding Ingenico’s terminals and in-store gateways’ commercial footprint. Chloé Mayenobe is named SVP, In-store EMEA, in charge of all commercial operations for physical retailers in the region.

The global Banks & Acquirers Business Unit will address banks & acquirers’ needs to reduce the total cost of ownership and the complexity of managing payments, as well as the need to differentiate their offer to their merchants. It will do so by leveraging the capabilities of Ingenico and Landi - the Group’s Chinese subsidiary - to offer a streamlined range of terminals, and by delivering terminal solutions that add value for merchants. The Banks & Acquirers Business Unit will cover a complete scope of activities, from offer design to after-sales services.

Patrice Le Marre is appointed EVP, Banks & Acquirers Business Unit. He will return from Singapore where he has spent the last 5 years leading and tremendously growing the APAC & China region. Jose Luis Arias, EVP Latin America, John Tait, SVP APAC, and Luciano Cavazzana, SVP EMEA will lead the commercial operations in their respective regions.

Jennifer Miles will join Ingenico as EVP, North America during the 2nd half of July 2017 once she has honored her contractual obligations to her former employer. With over 20 years of experience in the payment and financial services industry, Jennifer is one of the most renowned executives in the payment space. She started her career with Wachovia Bank, and spent the last 16 years with Verifone in a number of global business lines and regional leadership and executive capacities. With a nearly 5-fold growth of revenues in the USA over the past 5 years and over 80% market share in terminals in Canada, Ingenico has demonstrated that it is uniquely positioned to serve North American bankcard and retail customers, leveraging both Business Units’ products as well as ROAM, its Boston-based mobile payment solution. Jennifer’s unmatched knowledge of the complex US market will be of tremendous value as Ingenico pursues its expansion in this region. As Oscar Bello leaves the company, we want to thank him for his numerous achievements during his 9-year tenure with Ingenico, essentially spent leading and growing our Latin America business.

Corporate Functions: structure and Executive Committee members

Acquisitions Integration Management: acquisitions form an integral part of Ingenico’s growth agenda. Ensuring their fast and efficient integration into the company is essential to the realization of their contribution to Ingenico’s strategic and long term objectives. Jacques Guérin is appointed EVP, Acquisitions Integration Management. This role will be effective in July, as Jacques will initially focus on leading North America until Jennifer Miles joins the Group.

All other Corporate Functions are unchanged.

Michel Léger, as EVP Innovation, Nathalie Lomon, as EVP Finance & Legal, and Martine Birot, as EVP Human Resources & Communications complete the Executive Committee membership.

"I am tremendously proud of our ability to develop leaders from within and attract highly talented executives from the industry who want be to part of our strategic growth agenda”, commented Philippe Lazare, Ingenico Group Chairman & CEO. “This new operating model supports perfectly our ambitions to become the indisputable global leader in omnichannel payment acceptance. Customer-centric BUs that integrate offer management, delivery and sales will help us deliver the most relevant, innovative and cost effective products & solutions to our customers in a timely fashion, whilst securing our profitability.”

Separately, Ingenico Group announced today it has completed the acquisition of 100% of TechProcess Payment Services Ltd, a leading Indian online and mobile payments provider from its current shareholders (major global and Indian investors).

This acquisition strengthens Ingenico Group’s position in India, where it is the leader on the terminal market with c.50% market shares and a player in online payments through EBS, an Ingenico ePayments entity.

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