- The strategic purchase of Phos is a next step in Ingenico's evolution towards 
software-driven services, following recent acquisition of Ingenico by the 
investment funds managed by affiliates of Apollo Global Management (the "Apollo 
Funds") in September 2022

Ingenico, the global leader in payments acceptance solutions, announces its 
acquisition of 100% of Phos, a leading provider of software-only Point of Sale 
solutions (SoftPoS).

Phos is a premier player in the fast-evolving SoftPoS space, providing 
best-in-class highly flexible solutions to a large number of acquirers and 
PSPs. SoftPoS enables off-the-shelf smartphones or tablets to become payment 
terminals while complying with the highest standards of payment security.

Uses for SoftPoS are multiple and diverse. These include enabling small 
merchants and 'solopreneurs' to accept digital payment in a world where cash 
payments are declining. However, SoftPoS also allows enterprise customers to 
equip their sales associates with tablet-type devices for in-aisle payments 
acceptance. SoftPOS is a dynamic and fast-growing market. The installed base of 
SoftPoS terminals is expected to grow from 3.1 million worldwide in 2022 to 
almost 12 million in 2027.

Phos has developed a SoftPoS orchestration platform combining extensive 
connectivity with flexible user interfaces. With a full suite of services 
available, including acquirer integration and certification as a service, Phos 
brings new connectivity options quickly, easily and securely to its partners. 
The solution enables any contactless form of card payment from the main 
international payment schemes as well as digital wallets such as Apple Pay and 
Google Pay and QR code-based payments.

The Phos app is available for multiple user interfaces, offering both dynamic 
branding based on the user profile and a white-label version. Phos features 
app-to-app and web-to-app API- based integrations, as well as a software 
development kit (SDK) for embedded payment acceptance. The company has 
established the necessary connections to financial services where it operates 
and has active client and partner launch projects across all high growth 
markets.

This deal continues Ingenico's strategic expansion into new ways of serving its 
clients and reinforces Ingenico's role as the ecosystem enabler of choice for 
the payments industry. The solution complements Ingenico's PPaaS (Payments 
Platform as a Service). PPaaS enables clients, such as acquirers, payment 
service providers and independent software vendors, to design and seamlessly 
deliver payments and value-added services at the point of sale on Ingenico and 
non-Ingenico devices. In line with this 'device agnostic' strategy, Phos is a 
natural complement to Ingenico's PPaaS business.

Brad Hyett, CEO of Phos, commented on the deal: "We are delighted to join 
Ingenico and this transaction marks a significant step in the development of 
Phos. Since the company was founded, we have been a pioneer in our field, and 
we see a natural fit with Ingenico given their strong focus on delivering 
best-in-class innovative payment solutions as-a-service. We see strong customer 
demand and significant double-digit growth in the SoftPoS addressable market 
worldwide and are convinced that Ingenico will help us capture more of that 
market and explore new use cases with clients globally. We look forward to 
accelerating the business together with the Ingenico teams over the coming 
months."

Giulio Montemagno, General Manager of PPaaS for Ingenico added: "Our clients 
and partners around the world have clearly identified SoftPoS as one of the 
biggest opportunities they see right now. They consider SoftPoS a strategic 
option to engage with new customer segments and develop and test innovative use 
cases at scale, with minimum incremental investments in technology and 
distribution. They are looking to Ingenico, as their trusted partner in 
payments acceptance, to help them do that. We are very excited to bring this 
high- quality opportunity to our valued customers by partnering with the 
talented teams at Phos."

ABOUT INGENICO

Ingenico is the global leader in payments acceptance solutions. As the trusted 
technology partner for 1,000+ banks, acquirers, ISVs, payment aggregators and 
fintech customers, with up to 40 million POS terminals in service around the 
world, serving retailers ranging from small merchants to some of the best-known 
global brands, our world-class terminals, solutions and services enable the 
global ecosystem of payments acceptance. With 45 years of experience, 
innovation is integral to Ingenico's approach and culture, inspiring our large 
and diverse community of experts who anticipate and help shape the evolution of 
commerce worldwide. At Ingenico, trust and sustainability are at the heart of 
everything we do.

For more information, visit Ingenico.com<https://ingenico.com/en>.

SOURCE  Ingenico