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Ingenico success bodes well for contactless smart card industry
27 Apr 2010

Ingenico has reported sustained growth in both North America and Europe, thanks in part to growing demand for contactless smart card technology. 

According to the latest figures released by the French technology firm, revenues were up by 8.8 per cent over the first three months of 2010 when compared to the same period of last year. 

Overall revenues for the quarter stood at EUR173.2 million, thereby placing Ingenico on track to meet its target of achieving growth of between 3.5 per cent and 5.5 per cent over 2010 as a whole. 

Announcing the figures, chairman and chief executive Phillippe Lazare noted that this near nine per cent increase in revenues generated is "in line with expectations", with the upturn partly thanks to the success of a recent organisational restructure. 

"Going forward, we shall focus on implementing our strategic plan aiming at turning Ingenico Group into a provider of payment services and solutions," he added. 

Ingenico provides mobile payment devices for use with sQuid's contactless smart cards, giving consumers reliable, versatile and user-friendly means of paying for their shopping without cash.