FIS To Acquire Clear2Pay For $493M

Brussels-based payments vendor Clear2Pay has agreed to a EUR375 Million buyout offer from FIS, reports Finextra.

“Clear2Pay, which counts 40 of the world’s top 50 banks among its client list, employs over 1200 staff in 23 offices worldwide,” the Finextra story said. “The company’s flagship Open Payments Framework offers a suite of re-usable components through which banks can process multiple payments types via a centralised payments engine. The company also boasts a number of other desirable assets in the cards space and in testing.”

FIS President Gary Norcross issued this statement: “Many institutions are struggling to adapt to the evolving global payments landscape, inclusive of high-value and cross-currency corporate payments and new channels. This strategic acquisition demonstrates our commitment to delivering the technologies and assets that will enable our clients, especially large and global institutions, to realize a truly modern payments environment that encompasses all customer channels, simplifies payment operations, reduces costs and provides a better customer experience.”