MICROCAPITAL BRIEF: Ingenico SA of France Takes Majority Stake in Remittance Provider TransferTo

Ingenico S.A., a global electronic payment solutions company based in France, recently took a controlling interest in TransferTo, a Singapore-based telecommunications company, increasing its stake in the company from 35 percent to 90 percent. According to Eric Barbier, Ingenico’s Chief Executive Officer and Managing Director, “Ingenico and TransferTo believe that our partners will greatly benefit from this unique combination, which brings together a leading provider of payment solutions and a major airtime remittance service provider” [1].

In 2009, Ingenico had total revenue of EUR 700 million (equivalent to USD 922 million). As of 2010, TransferTo operates in 40 countries and reports 1.7 million unique users monthly.

By Julia Korn, Research Associate

About Ingenico S.A.

Ingenico S.A. is a global electronic payment solutions company with a reported 2,800 employees and a commercial presence in 125 countries. In 2009 it had total revenue of EUR 700 million (equivalent to USD 922 million).

About TransferTo:

Created in 2005, TransferTo is a telecommunications company based in Singapore. It uses mobile phones as a means to transfer money from one person to another. It reportedly operates in 40 countries and has 1.7 million unique users monthly. There is no financial information available on the company as of August 2010.

Sources and Additional Resources:

[1] Submitted to MicroCapital by Ingenico S.A. on August 4, 2010.

MicroCapital Universe. Ingenico. https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Ingenico

MicroCapital Universe. TransferTo. https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=TransferTo

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