Together, Ingenico and Verifone process 80% of all card machine payments in the world. As historical pioneers in credit card terminals, they are constantly expanding their offerings to cover the entire payment chain. The companies are very similar and competing fiercely.

With the arrival of new players in Asia and the introduction of smart cards in the US, the payment market is shifting. It is yet to be seen which of the companies will dominate in the future.

Founded 1980 1981
Headquarters Paris, France San José, USA
Listed on Euronext NYSE
Countries served 170 150
Employees 8000 6000
Sales (2017) €2.5 bn €1.6 bn

Sources: Ingenico and Verifone

Same business areas, different locations

The two companies are present in the same sectors: retail, hotels, restaurants, petrol stations and transport. Ingenico is well-established in the French healthcare sector, especially since it manages health cards.

Terminals are the visible part of these companies for the consumer, but this is only one of the branches of Ingenico’s and Verifone’s activities, the other two being transaction management and remote payments.

While their business foci are similar, this cannot be said of their customer base. Let’s see the figures.

Percentage of sales by geographical area (2017)


Source: Ingenico


Source: Verifone

Precise comparisons are complicated by the different geographical breakdowns. Verifone’s revenues come mainly from North America (34%) and the Europe-Middle East-Africa region (39%). The remainder is split between South America (14%) and Asia (13%).

Ingenico still has a relatively weak presence in North America (10%) and South America (7%) but is well-positioned in Africa and Europe (34%) and Asia-Middle East (22%). These figures provide clues about different growth prospects.

Same diversification strategy: acquisitions

Both companies have been able to expand their business beyond the development of payment terminals, notably through frequent and numerous acquisitions, thus becoming heavyweights in online and mobile payment solutions.

Ingenico acquisitions

Ingenico accelerated in 2017 when they had four acquisitions, including the Swedish Bambora for €1.5 billion.

Verifone acquisitions

Verifone’s largest acquisitions date back to 2006, 2010 and 2011. Lipman was acquired for USD 793 million in 2006, Hypercom for USD 485 million in 2010. Point was acquired for USD 820 million and Global Bay for USD 485 million, both in 2011.

Trend towards integrated offerings

As we have seen, Ingenico’s and Verifone’s business areas are divided into three branches: terminals and software, transaction management, and remote payments. However, this traditional representation by product/service groups is no longer in line with industry developments.

The trend is now towards marketing integrated offerings allowing simultaneous access to all products and services, i.e. multi-channel sales (point-of-sale, internet, mobile), terminal management, transaction management, customer service, and so on.

Ingenico and Verifone have refocused their offerings to encompass multiple services.

Verifone is now focusing on its Connect platform for merchants and acquirers. Ingenico has taken the same approach with its Axium platform, dividing the offering in two parts for clarity: 1) banks and acquirers, and 2) merchants and online retailers.

The latest-generation smart POS terminals Axium (Ingenico) and Carbon (Verifone) reflect this evolution. The devices are equipped with two touchscreens, one facing the customer and the other facing the salesperson. They are based on Android, so no longer on proprietary systems, which facilitates the addition of third-party software solutions from their “Marketplace”, such as loyalty programs.