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Dive Brief:
- French payment acceptance company Ingenico has partnered with Jifiti, a white-label lending fintech firm, to offer financing through Ingenico’s payments platform, according to a joint Monday press release from the companies.
- With Jifiti’s white-label technology, merchants that use Ingenico’s payment services will be able to offer their customers installment payments, lines of credit, net terms and split payments at the point of sale in-store and online, according to the announcement.
- Financial and payments firms, including card network Mastercard, Citizens Bank and processing company Fiserv, use Jifiti’s services, according to the release. Jifiti is based in Columbus, Ohio. A spokesperson for Jifiti couldn’t immediately say whether the companies have previously had a tie.
Dive Insight:
Ingenico’s new partnership marks its ongoing expansion following its acquisition in 2020 by Worldline, an international payments firm, for an undisclosed amount. At that time, Worldline provided digital banking services to 1 million businesses and 1,200 banks and financial institutions.
Retailers that offer Jifiti services include Peloton, Ikea and Wayfair, according to the press release.
Ingenico has continued to grow its roster of payment partners as part of its efforts to woo banks and other acquirers. Earlier this year, the company announced a collaboration with Klarna to offer flexible payment services at point-of-sale. A month later, Ingenico announced another partnership with Splitit to offer the installment payment provider’s services at physical checkout.
In August, Ingenico announced that it teamed up with the payment software company Elavon to build its Android-based handheld payments terminal for small businesses. With the device, merchants can accept payments on mobile devices, online or other fixed hardware.
In the release this week, Ingenico called the deal with Jifiti “a significant breakthrough” that enables banks, acquirers and sellers to offer a range of financing options and strengthen customer relationships.
Through the partnership, Ingenico expects to equip banks, acquirers, payments service providers and independent software vendors with flexible payment options that strengthen their customer ties and boost revenues, Ingenico General Manager Giulio Montemagno said in the statement.
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