The payment solutions group based in Dalgety Bay has over 32 million terminals spanning across more than 170 countries, with its chip and pin contactless technologies adopted by several major banks, retailers and financial service providers.

Despite the global usage of the firm’s services, turnover at Ingenico decreased by 7% from £131.9 million in 2017, to £122.1m for the year ending December 31 2018.

The firm also posted that pre-tax profits dropped by 15% from £28.6m in 2017, to £24.5m last year.

Director Ian Benn described the fall as “in line with expectations” as the first half of 2017 continued to see significant revenues generated from customers refreshing their technology to remain compliant with industry standards, but the revenue stream “would not be expected on an annual basis”.

Mr Benn said: “In 2018 the company maintained its leading position in payment terminals in northern Europe with the continued rollout of its latest product and solution range. This included the delivery and rollout of Axis, Ingenico’s own managed payment service, which represents one of our biggest growth areas.”

The fintech firm continues to observe and review the political discussions around Brexit, however the probability of a significant financial impact is described as “low”, as the company already imports products from outside of Europe, it is already set up for customs trading.

In September, Ingenico announced a deal with M&S to utilise a new payment service that will cover touchpoints and digital channels for the retailer.

Staff numbers at Ingenico increased from 400 in 2017, to 485 last year with 348 in production-related roles, 43 in administration and 94 in distribution.

Salaries and associated payroll costs for the company subsequently rose from £16.8m in 2017, to £21m last year.

The UK and Ireland remain the largest geographical market, delivering £89.1m for Ingenico, followed by the rest of Europe which attracted £32.6m.

Mr Benn identified several key areas of strategic development for the business, including winning new and replacement business, along with developing new markets.

He added: “New products continue to be developed for both new and existing markets, process efficiencies have been gained and new initiatives for efficiency improvements are constantly being developed.”