Multi-national payment solutions provider Clear2Pay has pledged to upgrade its offerings to Australia's financial institutions after agreeing to acquire Asia-Pacific e-delivery and payment specialist Sienna Technologies.
Warren Gardiner, co-founder of Sienna, said "Sienna Technologies' payments products complement the Clear2Pay next generation payment processing platform PayPark. It will enhance PayPark's component-based payment infrastructure for banks with components to service retail, SME, corporate and institutional clients."
PayPark is a platform which handles payment processing across several currencies and several languages. The plaform includes integrated security and accepts payments from retail, corporates and banks. It supports several payment protocols such as HTTP, e-mail, FTP and Web Services.
Features of PayPark include the Bulk Payments File Transfer Gateway (FLS), which is a batch payment enabler especially geared to handle large-volumed financial transactions from corporates to banks, from corporate enterprise resource planning (ERP) systems to bank back-offices.
Another feature is the Corporate Payment System (CPS), an Internet banking solution for the corporate market which offers both payment facilities and financial information services. Multi-Reporting Gateway is a financial reporting gateway that streamlines the bank statement processing for large corporates into their ERP systems.
Michel Akkermans, chairman and chief executive officer of Clear2Pay, said the merged companies viewed Australasia as providing good opportunities to expand. "The Asia Pacific market is attractive to us for its size and for the quality of the business opportunities and solutions available. There is also that opportunity to be the dominant player in the Asia Pacific region since there is none at the moment."
Under the agreement, Sienna will become a wholly owned business unit of Clear2Pay, and will be named Clear2Pay Asia Pacific.
Gardiner said additional solutions could now be offered to clients in Australia. He said "the portfolio that we never had access to before are now within reach with the Clear2Pay merger."
Gardiner is hoping that he can take Clear2Pay's technology to the market in the next six months.