Created in 2000, TechProcess is an online and mobile payment services provider headquartered in Mumbai with approximately 600 employees across 40 locations in India. The company has developed offerings in several markets where it built new positions, especially in online payments gateway, NACH (National Automated Clearing House), bill payments, and mobile payments. These services rely on a network of connections with Indian banks for acquiring and net-banking integration.
While 90% of retail purchases are currently paid in cash in India, electronic payments are expected to increase significantly in the coming years, pushed by recent government initiatives (demonetization of certain bank notes, launch of the national BBPS interoperable bill payments ecosystem, etc.).
The acquisition of TechProcess will support the strategy of Ingenico Group in India, where it has a significant position on the terminal market with c.50% market shares and a player in online payments through EBS, an Ingenico ePayments entity. As a result, Ingenico Group will further expand its footprint in the country, and, ultimately, offer cross-border capabilities.
For more information about Ingenico, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now