Korvac receives S$30mln investment from Ingenico

Ingenico poised to tap synergies to expand product offerings and operations in Southeast Asian market.

Korvac is the holding company of Card Alliance Pte Ltd and PaymentLink Pte Ltd (a JV with Mitsui & Co.). The Group provides a full range of payment services including PIN-based debit services through the EPINS network and non-transit payment using ez-link and concession cards. In addition to payment services, the Group provides an extensive suite of merchant related services from regional payment infrastructure, transaction acquiring and processing, loyalty programmes, private label authorisation systems and consumer data analytics.

Ingenico is the world’s leading player in the secure electronic payments industry, with over 15 million electronic payment terminals deployed across 125 countries, according to a Korvac report.

Mr. Jeremy Tan, Chief Executive Officer of Korvac, said, “We are delighted to announce Ingenico’s strategic investment of S$30 million in Korvac. With Ingenico as our strategic partner, Korvac is poised to harness the synergies in both our businesses to strengthen our product offerings. This will enable the Group to aggressively expand our services to further tap the tremendous growth potential of the payment and merchant market in Asia.”

Philippe Lazare, CEO of Ingenico, commented: “Our investment in Korvac is a perfect fit within the strategy of Ingenico, in the large and growing payment market in Asia. We have identified potential synergies with our other activities and will benefit from the strong presence of Korvac covering the whole payment value chain across South East Asia”.

The investment gives Ingenico a 49% stake in Korvac.

Also Read

Fullerton Fund Mgmt, UNDP working on sustainable management framework

DBS, OCBC to see net profits dip, loan growth soften in Q1

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit