Partnerships / Acquisitions

Ingenico Partners With Cabify

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The recently announced partnership between Ingenico and Cabify could help the latter’s business growth in Latin America, according to analysis by Business Insider.

As noted, the new relationship means that Ingenico’s ePayments unit will provide processing in order to enable credit card payments across Cabify’s own application. The eventual roadmap includes an expansion into new payment options, as well as additional currencies, the firms said. Business Insider said that the joint efforts between the two firms also mean that friction can be reduced at the point of payment for Cabify, leading to higher volumes and Ingenico enjoying the advantages of increased processing fees.

The site reported that ePayments as an Ingenico segment has been seeing a rebound after initial declines earlier this year. The firm has also been bedeviled by macro-issues in Latin America (which is 8 percent of the top line) and in Brazil in particular.

Cabify operates across 12 countries and 33 cities.

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