French terminal maker Ingenico SA and electronics giant Samsung are combining their mobile payment products to offer merchants an integrated mobile payment system.
The alliance brings together Samsung's mobile devices and tablets with Ingenico's mobile payment platform and card readers, Ingenico states in a Feb. 20 press release. Ingenico and Samsung will jointly provide security and support.
Ingenico distributes its products through financial institutions, and Samsung distributes through telecommunications operators. This combination of sales channels will make the companies' technology available to businesses of all sizes, Ingenico says.
"We are very excited to enter a strategic partnership with Samsung, enabling them to expand their presence in the payments sphere," Philippe Lazare, president and CEO of Ingenico, states in the release.
The global scale of the new alliance represents "a significant milestone, as two industry leaders combine to bring the best of the mobile and payment worlds," Lazare adds.
Ingenico says it currently has more than 20 million terminals deployed in more than 125 countries. Samsung says its annual sales of electronics exceed $216 billion worldwide.
The companies did not indicate a timetable to make their system available to merchants.
Last month, Ingenico boosted its mobile commerce capabilities through a partnership with software provider Starmount.
Ingenico plans to use Starmount's Connect software to expand operations on its iSMP mobile payment device, which utilizes Bluetooth technology to operate smartphones and tablets as point-of-sale terminals.
In December, Samsung teamed with MasterCard to launch a Near Field Communication-based mobile payment system with Commonwealth Bank of Australia.