* US shift to chip-and-pin fuels growth
* Firm eyes 14-16 pct organic growth in 2014 (Adds CFO quote, background)
July 30 (Reuters) - 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 United States.
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 year.
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 last year.
“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 revised forecasts.
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 Elaine Hardcastle