Clear2Pay NV SA has broadened its payment-systems testing capabilities with the purchase of ATM testing software provider Level Four Software Ltd., the payments technology company announced Nov. 14.
Financial details of the acquisition were not disclosed.
Belgium-based Clear2Pay provides banks and other financial institutions with modern upgrades or new payment-services technology for card, automated clearinghouse, branch or bulk payment transactions, the company stated in a press release.
Scotland-based Level Four provides software testing for the entire ATM-transaction process, helping banks minimize errors and reduce machine downtime. Level Four clients include JPMorgan Chase & Co., Bank of America Corp., Lloyds Banking Group, Barclays PLC and Cedicam, a subsidiary of Credit Agricole SA and current Clear2Pay customer, the press release noted.
Level Four’s more than 30 employees will become part of the Clear2Pay testing team but will continue to work from Level Four offices in Scotland, the United States and United Arab Emirates, the company stated.
The acquisition of Level Four comes four months after Clear2Pay purchased Lexcel Solutions Inc., a Scottsdale, Ariz.-based provider of payment-system testing software, Clear2Pay stated.
"This acquisition of Level Four underlines our strategic commitment to the heart of the payments industry, of which payment testing is an essential and incremental part,” Jürgen Ingels, Clear2Pay co-founder and CFO, said in the press release.
Earlier this year, the South African National Department of Transport chose Clear2Pay to conduct tests on the payments system for the nation’s transportation system (
Last month, Level Four announced a partnership with Wincor Nixdorf International GmbH to promote automated ATM testing for clients of both companies (
