mCommerce Platform ROAM Gets a Cash Boost from Ingenico
Platform-as-a-service provider ROAM Data recently announced that billion-euro company Ingenico invested in the company to drive expansion towards offering its mobile commerce solutions to payment service providers worldwide. This is part of Ingenico’s cash infusion and strategic partnership program.
“We are thrilled to have the trust and support of Ingenico’s team. Their recognized expertise in payments and global reach will greatly bolster our growth plans,” said CEO of ROAM Data, Will Graylin. “This new investment will provide us the fuel to create even more mobile commerce innovations and to deliver the best solutions possible to partners and customers around the world.”
While established companies continue to explore the mobile payments market, ROAM operates behind the scene, quietly servicing many of these contenders by turning smartphones and tablets into secure POS devices. This allows consumers to securely and conveniently buy goods and services inside the merchant’s mobile apps and websites.
ROAM doesn’t cater to small scale businesses but its partners, which includes some of the largest merchant service providers around, do, such as Global Payments, Sage Payment Systems, Vantiv, North American Bancard, Total Merchant Services, First Data and Chase Paymentech, to name a few.
While the inevitable surge of mCommerce has brought ROAM Data and Ingenico together, it seems to be the other way around for eBay and Paypal. BGC Partners LP Analyst Collin Gills said that eBay is pushing the split because it would be easier for people to not have different account and different processes. eBay is also poised to gain 30 percent more without Paypal.
Looking at the numbers, eBay registered their biggest revenue jump in 5 years in 2011, handling $4 billion in mobile payments. The company is expected to increase to $8 billion this year. Paypal, on the other hand, is slated to reach $7 billion this year as mobile shopping is expected to top overall online shopping.
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