Ingenico closes Paymark acquisition, strengthening Pacific presence

Terminal manufacturer and payments technology provider Ingenico Group has completed its acquisition of New Zealand-based payments network Paymark.

Terminal manufacturer and payments technology provider Ingenico Group has completed its acquisition of New Zealand-based payments network Paymark.

Regulatory approvals from the relevant antitrust authorities have been granted, the Paris-based company said Friday in a press release.

Ingenico did not provide the final acquisition price in the release, though it was reported a year ago that it was paying about $140 million for the company.

At the time of the initial agreement, Ingenico indicated an acquisition of Paymark would bolster the company's in-store and online presence in the Pacific region, as a complement to the acquisition of Swedish payments software provider Bambora in 2017.

Ingenico also said it is in a stronger position to provide retail analytics tools and loyalty program software to clients in that region.

Ingenico will continue to invest in Paymark in providing payment solutions to banks, retailers and local partners, the company said in the release.

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