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Clear2Pay launches G3 Payments solution to the Singapore market

Regional APAC team offers out-of-the-box solution on the back of the globally accepted Open Payment Framework

Brussels/Singapore, 15 March 2012 - Clear2Pay, the international technology provider of next generation payment solutions for financial institutions announces today that it launches the G3 Payments Solution for the Singapore financial services industry on the back of its pure SOA Open Payment Framework. This product announcement is a direct follow-on from the partnership Clear2Pay announced with Vocalink on delivering an end-to-end Immediate Payments solution for banks.

The G3 scheme will enable Singaporean banks and financial institutions to process low-value payments in real-time maximizing their ability to deliver innovative and commercially attractive products while minimizing settlement risk. This higher level of velocity of money within the economy will benefit Singapore’s thriving business community at large and will be closely monitored by neighboring countries.

Clear2Pay’s G3 Immediate Payment Solution, developed by Clear2Pay’s APAC team partially based in Singapore, is as an extension of the globally embraced and implemented Open Payment Framework . It combines the benefits of global standard payments processing with local requirements, expertise and implementation resources. Rather than building a bespoke solution, customers can opt for a ready scheme supported solution and deploy this in a short time frame within their environment. In addition banks will benefit from ongoing support and scheme enhancements allowing banks to realize a lower cost of ownership as G3 expands and matures.

Stephen Peters, VP Clear2Pay APAC states: “As a global company with dedicated local and regional teams, we have amassed a wealth of experience in deploying new payments schemes such as SEPA and UK Faster Payments at our clients’ sites. Combining this expertise with our flexible Open Payment Framework and our inclusive G3 Open Test Solution gives us the flexibility to offer our existing and new customers in the region a secure and fast way to embrace G3 in time for industry testing by the end of this year”.

 

About Clear2Pay

Clear2Pay is a payments modernisation company that actively supports many global financial institutions to meet their payments unification goals through its pure SOA Open Payment Framework (OPF).  Headquartered in Brussels, Belgium, the company facilitates banks and financial organisations in their provision of payments services, whether they be Card, ACH, Branch, Bulk, High Care or International payment transactions. Clear2Pay's innovative technology helps to reduce transactions processing costs, and to deliver new, compelling payment services in a competitive way. Functions embrace payments origination, reporting, linkage with back-office processing systems, clearing, netting and settlement. In addition the company offers a range of value added payment technology solutions and services such as e-Banking, the Open Test Platform, ChargeBack, Strategic Consultancy and Payments Training through a dedicated Academy. Clients include global and major regional financial institutions such as ING, Banco Santander, Crédit Agricole, MasterCard, BNP Paribas, The Federal Reserve, NETS (Denmark), The People's Bank of China (PBOC), Bank of East Asia, Rabobank, The Co-operative Financial Services and Commonwealth Bank. Clear2Pay operates out of Belgium, France, the Netherlands, Poland, Spain, United Kingdom, United States, Australia, China, India and Singapore and currently employs 1000 staff. Recently, the company was awarded the XCelent Customer Base 2010 award for its undisputed largest payment hub customer base, both live and under implementation.

 

For more information:

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

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