French payment processor Ingenico has wrapped up the acquisition of TechProcess Payment Services, an India-based electronic payments services provider.

TechProcess, established in 2000, runs two payment products, BillJunction and PayNimo. It employs approximately 600 people across 40 locations in India.

The deal is expected to bolster Ingenico's position in India, where it is the leader on the terminal market with nearly 50% market shares and a player in online payments through EBS, an Ingenico ePayments entity.

The acquisition was first announced in January this year.