Launched in Asia in 2022, Ingenico’s StartupIN Program has expanded its horizons beyond regional borders, welcoming startups from across the globe. With a dedicated focus on seamlessly integrating promising commerce solutions into Ingenico’s ecosystem, StartupIN serves as a collaborative ally for early-stage startups venturing into physical in-store environments, bridging the gap between the real and digital worlds through Ingenico’s omnichannel payments and commerce solutions. 

Catered to early-to-mid-stage startups, the program acts as a platform for identifying and supporting the growth of new and innovative in-store payments and payments-linked solutions. For startups, participation in the program means a strategic partnership with Ingenico, providing access to its global network, expertise, and exclusive events for mentorship and business development. The partnership accelerates market entry, enhances credibility and visibility, and bolsters their market presence.

Ingenico’s transformative journey to a dynamic point-of-commerce technology provider

Ingenico’s transformation from a hardware-focused point-of-sale organisation to a dynamic point-of-commerce technology provider is marked by innovations such as AXIUM, a smart payment platform, along with a comprehensive suite of Managed Services and value-added commerce solutions to support diverse business environments. The transformations underscore Ingenico’s commitment to innovating the in-store payments space and are further emphasised through the StartupIN program, where startups leverage Ingenico’s global network and industry expertise to fuel growth and innovation.

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Driven by a mission to push boundaries within the payment ecosystem, StartupIN aims to elevate commerce solutions to meet the evolving needs of tomorrow. The goal is clear: to become the go-to destination for in-store innovation, facilitating collaboration, and driving transformative change in the retail landscape.

Ankit Maheshwari, APAC Startup Engagement Lead, StartupIN Program elaborated, “Ingenico has more than 40 years of experience in the payments industry and we have continuously grown and deepened our capabilities in this space. We believe that partnerships are key to driving innovation in in-store payments. StartupIN is our innovation and collaborative playground where we bring our expertise and global network together with inventions from startups to build forward-looking commerce solutions.”

StartupIN: The in-store commerce specialist

In the Asia Pacific region, around half of retailers anticipate a portion of online spending moving towards brick-and-mortar stores, with 42% expecting foot traffic to return to pre-pandemic levels. This trend presents a significant opportunity for startups to explore omnichannel solutions. At the forefront of this transition is the StartupIN program, which distinguishes itself through its focus on guiding startups in navigating in-store environments. 

Despite being founded just two years ago, StartupIN has clearly defined objectives: to champion innovation, foster collaboration, and serve as the bridge between in-store innovation and global commercial opportunities for startups. To determine if startups are a good fit for the program, StartupIN evaluates them based on four key criteria, known as the 4T’s -Team, Technology, Traction & The Ingenico fit.  

Acknowledging the ever-changing nature of startup environments, where market trends, technological advancements, and business pivots continuously evolve, the program is designed to be highly responsive to these changes. Partnering with startups, the program helps to navigate challenges including corporate environments and hierarchies, bridging gaps, and making the necessary connections. 

“As a relatively new entrant to the market, we embrace an agile mindset, shaping our processes to prioritise quicker delivery and seamless collaboration. With our past collaborations, we’ve streamlined delivery times from three weeks to a maximum of two months, depending on the complexity of the project. We know that startups have their hands full, so we keep things efficient, taking into account their limited resources and business goals. By working with us, startups also take on minimal risk, as no equity is involved.” expressed Ankit. 

Beyond facilitating short-term collaborations, StartupIN is committed to cultivating long-term relationships with emerging startups. The program primarily focuses on APAC and European markets, having successfully engaged startups such as Pi-xcels, Triple A, Crowdshop, Anycover, Kosmo, Savee, and Payex, with ongoing Proof of Concepts in Brazil and Spain, showcasing a diverse array of innovative solutions in the payment landscape across various industries.

Startups are attracted to StartupIN for various reasons. Firstly, the program provides a streamlined process and reduces risks for startups, ensuring efficiency and effectiveness. The straightforward onboarding process facilitates quick integration, and startups receive tailored mentorship. Furthermore, StartupIN’s participation in key industry events like the Singapore Fintech Festival and Paytech, Ingenico’s annual global event for its clients, offers valuable networking opportunities and the chance for startups to co-exhibit, boosting visibility and engagement in the startup ecosystem.

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“Throughout the year, StartupIN actively participates in various industry events, offering our partners opportunities to shine through exhibitions and speaking engagements. For example, Pi-xcels joined the StartupIN Program in January 2023, and within a record time of four weeks, we jointly developed a Proof of Concept (POC). Subsequently, we enhanced demo capabilities and initiated conversations with customers across Europe, Brazil, and Asia. The level of engagement of startups can vary, taking into account factors such as the startup’s profile, founder, solution type and other criteria to capture the key interest of shareholders. Pi-xcels further excelled when they won the pitch contest at Paytech 2024, sparking interest amongst many of Ingenico’s customers.” shared Ankit.

StartupIN and the road ahead

Looking ahead to 2024, StartupIN plans to continue supporting innovative solutions that positively shape the commerce landscape by enhancing its go-to-market strategy and transitioning POCs into the pilot phase, building on 2023’s successes.

To refine its approach, StartupIN collaborates closely with innovation teams in the banking sector to identify suitable startups for potential 3-way POC co-creation and tailoring solutions precisely to meet partners’ and market needs. Additionally, it strengthens relationships within the fintech ecosystem through partnerships with ecosystem players and venture capitalists (VCs), aligning with its commitment to fostering innovation in the financial technology space.

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“At its core, StartupIN’s mission is about empowering people and pushing the boundaries within the payment ecosystem. We embrace an open-minded approach and part of StartupIN’s journey involves discovering new startups along the way while continuing to support innovative solutions that positively shape the commerce landscape. Over the past 12 to 18 months, the program has evolved significantly to ensure its relevance and effectiveness in supporting startups’ evolving needs. Navigating in-store payment and commerce solutions can often be daunting for startups, especially without a clear playbook like their virtual counterparts. However, as the online and offline worlds converge and consumers demand seamless omnichannel experiences, the StartupIN program is here to lead the way.” Ankit added.

For startups curious to learn more about StartupIN and the program, find more information at: https://ingenico.com/en/partners/startupin.

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This article is produced by the e27 team, sponsored by Ingenico

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