Ingenico reaches 50,000 terminal milestone in Africa

The Ingenico Group recently installed about 50,000 payment terminals in Africa.

Its first smart terminal in Africa was installed in 2008, and since then, it has expanded its reach across Malawi, the Democratic Republic of the Congo, Nigeria, Uganda, Zambia and Tanzania. Through these terminals, financial institutions and businesses are able to carry out numerous transactions that do not involve plastic cards, including micro-financing, branchless banking and over-the-counter operations.

“Building a secure financial ecosystem for the underbanked population is an enormous challenge,” Mike Gama-Lobo, vice president and regional director for Africa operations for FINCA, said. “Ingenico Group has proven its ability to adapt to local constraints through a single terminal. The Ingenico smart terminals are invaluable for our staff to enroll customers, offer micro-loans and help them keep their finances safe.”

FINCA has been a long-time client of the Ingenico Group, and it specializes in micro-financing. The company states that it utilizes Ingenico’s biometric terminals in order to provide additional security against fraud.

“This milestone is taking us to the forefront of the Financial Inclusion market in Africa, where three quarters of the population is still unbanked,” Luciano Cavazzana, Eastern Europe & Africa managing director for Ingenico Group, said.