Clear2Pay
From Wikipedia, the free encyclopedia
| Clear2Pay | |
| Type | Private Company |
|---|---|
| Founded | 2001 |
| Headquarters | Mechelen, Belgium |
| Key people | Michel Akkermans(Co-founder, CEO & Chairman), Jürgen Ingels(Co-founder and CFO) |
| Products | Payment solutions and consulting services |
| Website | http://www.clear2pay.com/ |
Clear2Pay is a worldwide IT company specialising in payment solutions. The company was founded by Michel Akkermans and Jürgen Ingels in 2001 with a start running capital of €1.8M, which kicked off the development of PayPark Technology—a payment management system, which allows banks and providers of electronic payments to migrate towards a single platform. Over the last five years, the company has gone on to provide more solutions and consulting services. Clear2Pay has offices in ten cities around the world and is headquartered in Belgium. Its clients include major financial institutions and banks like ING, Wells Fargo, MasterCard, American Express, and Visa.[1]
Contents |
[edit] News
Clear2Pay annouced the availibility of a modular combined SEPA Direct Debits and SEPA Credit Transfers solution. The solution is based on its Open Payments Framework (OPF), a library of component building blocks on a Service Oriented Architecture (SOA).[2]
The Flemish Innovation Institute for Science and Technology (IWT) awarded Clear2Pay EUR130,000 to support the development of its SEPA direct debit technology.[3]
Clear2Pay was awarded the awarded Financial-I Leaders in Innovation Award for Most Innovative e-Payments Solution. An independent jury recognises companies that show an ongoing commitment to product innovation. [4]
Clear2Pay and TODO1 will be implementing an integrated payment hub solution, Bank Payment Hub, at Banco Mercantil in Argentina. This solution allows customers to access, pay and handle their bills online on the bank's website.[5]
Clear2Pay and Xoom Corporation are partnering to offer a turn-key remittance solution for banks and financial institutions. This solution gives banks control over price, foreign exchange (FX) spread, float and report branding.[6]
[edit] History
Clear2Pay has been around for just over five years; however, it has grown significantly by expanding its payments product range and acquiring companies that produced niche payment solutions:[7]
EFT Consultants
Sienna Technologies
Elements NV
MaXware Benelux NV
Tectrade NV
2002
A credit card processing platform, ClearPark, was integrated and the company was selected by Visa Europe to build Visa Direct Service based on PayPark core payment components.
2003
Intel signed up as a shareholder and the capital was increased to €5.35M. MasterCard connected to the ClearPark Processing Platform. Clear2Pay also expanded into two other countries: the UK with the opening of a sales office in the country and the Netherlands with the acquisition of MaXware Benelux. The acquisition of MaXware NV added cash management expertise and ING as a major customer.
2004
Clear2Pay launched a new product, "Open Payments Framework" (Remittance and Bank Payment Hub) and its 3-D Secure certified products were able to get compliance certification from JCB. In relation to clients, the company added on Scandinavian Bank Group, SEB, and Thai Bank, KCS. Geographically, Clear2Pay expanded into Southern Europe with the opening of a Madrid office, Australia with the acquisition of Sienna Technologies, and China with the recruitment of a Chinese sales representative.
2005
During this year, the company expanded its product range to include chargeback functionality and internet banking software through the acquisition of Brussels-based software house, EFT Consultants. This acquisition brought along with it some impressive customers, including Abbey National (part of Grupo Santander), and Svenska Handelsbanken. It was during this year that Clear2Pay entered the US market not only through the addition of American-based clients, Wells Fargo, Chevron-Texaco, and ECHO Inc., but also through the addition of a Boston-based office.
2006
In May 2006, Clear2Pay was awared the 2006 Red Herring 100 Europe. The award recognizes the "100 Most Promising" firms driving the future of technology. Clear2Pay's capital also increased to €15.7M with the participation of initial investors, and AGF Private Equity and GIMV. The company added six more companies, including First Data International in Germany and BankWest.
[edit] Products
Changes in the payments industry have much to do with technology as well as regulations. As people (customers) adapt to a faster world in which just about anything is merely a mouse click away, banks also must adapt to this need. The current solutions made by Clear2Pay have been created to answer to the current needs of the payments industry i.e. Single European Payments Area, Faster Payments Service in the UK, compliance to card scheme clearing rules and online security (such as those of JCB, Visa and MasterCard).
Payment Processing
Bank Payment Hub (BPH)
Single Euro Payments Area
SEPA Direct Debits (SDD)
Open Payment Framework (OPF)
Remittance
Faster Payments for the UK
Chargeback Processing
ChargeBack (CBK)
Cards Processing
ProxyPay³/M
ClearPark
Security
ACS-CES-MPI (Access Control Server-Cardholder Server-Merchant Plugin)
[edit] References
- ^ About us. Retrieved on 2006-12-11.
- ^ Clear2Pay launches unified SEPA Direct Debits with SEPA Credit Transfers solution. Retrieved on 2007-03-12.
- ^ Clear2Pay gets EUR130,000 grant for Sepa direct debit strategy. Retrieved on 2007-03-12.
- ^ Clear2Pay Awarded Financial-I Leaders in Innovation Award for Most Innovative e-Payments Solution. Retrieved on 2007-01-11.
- ^ Todo1 delivers Clear2Pay Bank Payments Hub to Banco Mercantil. Retrieved on 2006-12-11.
- ^ Clear2Pay connects payment hub to Xoom remittance network. Retrieved on 2006-12-11.
- ^ News: All news for Clear2Pay. Retrieved on 2006-12-11.
