Ingenico appointed four executives to lead product, technology, revenue and customer operations today (Wednesday). The appointments follow a EUR 150 million (about $174 million) capital reset led by PIMCO.

The hires put outside executives in charge of the functions that will decide how Ingenico spends the new money and develops its payment terminals and cloud services.

Maria Parpou joined as chief product officer, Paul Gardiner as chief technology officer, Ieuan Owen as chief revenue officer and Oliver Moore as chief customer excellence officer, according to Ingenico’s announcement.

Mastercard Executive Takes Product Role

Parpou previously led Mastercard’s global gateway operation, which serves more than 200 acquiring banks, Ingenico said. Her earlier employers include Paysafe and Barclays.

As product chief, she will set the company’s development roadmap. Gardiner will run its engineering teams and technology plans after serving as chief information technology officer at NCR Atleos.

Gardiner worked on NCR Atleos’ separation from NCR and the modernization of its service operations platforms, according to Ingenico. He has more than 25 years of experience in software engineering, payments infrastructure and technology change.

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Chief Executive Officer Floris de Kort said the four hires “strengthen every critical capability we need to deliver on our strategy.”

Revenue and Customer Operations Get New Chiefs

Owen will oversee Ingenico’s global commercial organization. He most recently served as chief revenue officer and executive director of Xplor Technologies’ Fitness & Wellbeing business and previously held roles at Worldpay.

Moore will lead customer support and the broader customer experience. He most recently ran Sitecore’s global customer support and operations organization, following earlier positions at Colt Technology Services and Deltek.

The company did not disclose when the four executives started, where they will be based or whether they replaced departing leaders. It also did not publish compensation details.

PIMCO Deal Changes Ingenico’s Ownership

Ingenico announced the capital agreement on August 17. The company said the money would support product development and customer operations, but its statement did not explain the transaction’s debt or ownership mechanics.

AFP reported that part of Ingenico’s debt will convert into equity, giving the affected creditors stakes in the company. Apollo, which has owned Ingenico since 2022, will exit the ownership structure.

Latham & Watkins said it advised Ingenico on the recapitalization. Neither Ingenico nor the law firm identified the other investors in the PIMCO-led group or provided a closing date.

The ownership change follows a short period under Apollo. Worldline entered talks to sell its Terminals, Solutions & Services division to Apollo in February 2022 in a deal valued at about EUR 2.3 billion at the time.

Worldline bought Ingenico in 2020. FinanceMagnates.com reported on the Ingenico integration and the planned disposal during Worldline’s first-half results in July 2022.

Terminals and Cloud Platform Share the Budget

Ingenico continues to invest in its AXIUM family of Android payment devices. Ingenico 360, its cloud platform, combines device management, transaction services, applications and analytics.

Its Developer Journey gives partners and independent software vendors tools to build and certify payment applications.

Ingenico says it employs more than 3,000 people across 32 countries. It reports that tens of millions of its devices are deployed in more than 120 countries and support over 2,500 applications.

The product range places Ingenico between physical checkout hardware and the software used to manage it. In 2024, Ingenico supplied technology for Mastercard’s biometric checkout pilot in Uruguay.

Its work in payment acceptance predates the current cloud push. Ingenico integrated BitPay with its point-of-sale terminals in 2015. Merchants using its Telium system could then accept Bitcoin payments.

This article was written by Damian Chmiel at www.financemagnates.com.

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