Clear2Pay Acquires Jware Technologies

Bank Technology News | April, 2010

Hungry to broaden its ability to handle multiple payment types as banks consider new forms of automated payments, Clear2Pay has purchased mobile and e-commerce niche player Jware Technologies.

The eight-year-old Jware develops and sells software to financial institutions, retailers and payment processors. Among its services are an online switch that includes transaction processing and business application modules, and solutions for mobile payments, card payments and network connectivity. Other products include business application modules for point of sale, ATMs, clearing and other services.

Under the deal, in which financial terms were not disclosed, Jware will be branded as Clear2Pay. In a statement, Clear2Pay chairman and CEO Michel Akkermans said his firm hopes to sell clients a single platform that handles all payment transactions. Jware’s part in that goal will be to enhance Clear2Pay’s card-based, electronic commerce and mobile payments as part of Clear2Pay’s Open Payment Framework.

The Open Payment Framework is a SOA-based offering that allows banks the ability to process payments through a centralized engine that utilizes a library of reusable business services across different payment types. Clear2Pay has operations in Europe, the U.S. and other regions with clients including ING, Banco Santander, Credit Agricole, VISA and MasterCard.