* US shift to chip-and-pin fuels growth
* Firm eyes 14-16 pct organic growth in 2014
(Adds CFO quote, background)
July 30 French payments firm Ingenico
raised its annual organic growth and operating margin targets on
Wednesday after revenue rose sharply in the second quarter,
helped by a transition to chip-and-pin payment terminals in the
Ingenico, which builds such terminals, is benefiting from
regulatory changes in the United States which will force all
retailers to adopt the chip-and-pin system -- already standard
in Europe -- by October 2015 for most payments.
As Ingenico grabs market share in the United States, sales
in North America jumped by 57 percent over the first half,
year-on-year. Second-quarter revenue overall was 378 million
euros ($506 million), up 20 percent from the same period last
The firm raised its organic growth forecast to 14 to 16
percent this year, versus an earlier target of 10-15 percent.
It raised its earnings before interest, tax, depreciation
and amortisation (EBITDA) margin target to 21.5 to 22.5 percent
from 21 percent previously. Second-quarter revenue was 378
million euros ($506 million), up 20 percent from the same period
"I think we have reached levels of profitability which are
very strong, we don't think we can go a lot on top of that,"
said Chief Financial Officer Patrice Durand, referring to the
Ingenico announced earlier this month it had entered
exclusive talks with online payments company Global Collect with
which it hopes to tap into strong growth in online payments,
notably in the United States.
Netherlands-based Global Collect, which operates in 170
countries, is specialised in facilitating cross-border
purchases, an expanding market.
Ingenico will also be rolling out its next-generation
payment platform, Telium 3, at the end of this year with
revenues expected to start accruing next year, said Chief
Executive Philippe Lazare.
Asked whether the new terminals would be priced differently
than the previous version, he said: "The idea is not to sell
them at a cheaper price than the previous one."
(1 US dollar = 0.7475 euro)
(Reporting By Nicholas Vinocur; Editing by Leila Abboud and