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Clear2Pay acquires Beijing based ETH Tech Limited

Clear2Pay continues its Chinese success with a second office

Brussels/Beijing, 24 June 2009 – Clear2Pay, the international technology provider of next generation payment solutions for financial institutions announces the opening of Clear2Pay Beijing through the acquisition of ETH Tech Limited. Clear2Pay Beijing will work in conjunction with the Shenzhen office on developing, integrating and implementing payments solutions within Chinese banks and other financial institutions.

ETH Tech Limited was founded in 2004 with a focus on Business Intelligence (BI) for banks, financial institutions, government agencies and large corporates. Major clients include: China Construction Bank, China National Clearing Centre, Bank of China and the central bank, People’s Bank of China. Clear2Pay China will acquire 100% of the ETH shares, thus making it a full member of the group.

“When working with Chinese banks on a number of projects, the name of ETH Tech came up on several occasions. We soon found out that there is a wonderful synergy between the two Chinese operations on the one hand and between Clear2Pay Beijing and our core Clear2Pay payments technology on the other. More and more we see business intelligence becoming part of the vital functionality in payments environments to aid financial institutions with compliance reporting and business analysis. The solutions expertise and the experience in implementation projects of our new colleagues at ETH is very valuable to us and will support our business around the globe”, states Warren Gardiner, General Manager Asia Pacific for Clear2Pay.

Aaron Gu at ETH Tech Ltd. adds: “For us as industry veterans it is a very exciting prospect to continue to grow in a large international and well reputed firm such as Clear2Pay, where we bring our specialist BI expertise, which will support the core product set. Moreover, with our regional contacts in the Beijing area as well as our colleagues in Shenzhen, we increase Clear2Pay’s footprint in China, with understanding and respect of local operational and cultural differences. We are very pleased to fill in the second part of Clear2Pay’s so-called Golden Triangle strategy”.

The Clear2Pay Beijing office is home to around 20 staff which brings the total count in China to 80. Internationally Clear2Pay operates out of 11 offices and employs over 450 staff in total.

 

About Clear2Pay

Clear2Pay is an innovative financial technology company focused on delivering globally applicable solutions for secure, timely electronic payments. Headquartered in Brussels, Belgium, the company facilitates banks and financial organisations in their provision of payments services. Clear2Pay's technology helps to reduce transactions processing costs, and to deliver new, compelling payment services in a competitive way. Clear2Pay's payment solutions offer organisations easy, branded ways for their customers to pay online: from complex trade-supporting business-to-business environments, through e-commerce applications, to retail payments and remittance services. Functions embrace payments origination, reporting, linkage with back-office processing systems, clearing, netting and settlement. Clients include global and major regional financial institutions such as ING, Banco Santander, Crédit Agricole, VISA, MasterCard, ABN AMRO, Nordea, Abbey National, Fortis Bank, ANZ and Commonwealth Bank. Clear2Pay operates out of Belgium, France, the Netherlands, Poland, Spain, United Kingdom, United States, Australia, China, Malaysia and Singapore and currently employs over 450 staff.

More information is available on www.clear2pay.com

 

For more information:

Clear2Pay NV/SA
Conny Dorrestijn - VP Marketing and Communications
E:
T: +31 651 067201

Contact details Clear2Pay China
Chan Mun Kiat - sales
A-801# Research and Development Building,
Tsinghua Hi-Tech Park, North District,
Shenzhen Hi-Tech & Industrial Estate,
Nanshan, Shenzhen
E:
T: +86 755-26510777
F: +86 755-26030700

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