Belgium-based Clear2Pay has acquired Element, a local provider of card payments software, in an undisclosed cash and share deal.
Element provides secure payments software for both card issuers as well as acquirers.
Under the acquisition, Element will relocate to Clear2Pay's offices in Ghent, Belgium to form a business unit dedicated to card payments. The new division will be headed by Element managing director, Ronny Leplae.
Michel Akkermans, chairman & CEO of Clear2Pay, says Element's card payments technology will be integrated with Clear2Pay's processing platform, Pay Park.
"By extending Clear2Pay's PayPark product offerings with Element's 3-D Secure certified card-based payment solutions, we are much better equipped to service card issuing and card acquiring financial institutions across the globe," says Akkermans.
Clear2Pay acquired EDB Business Partner's Dutch payments software subsidiary, MaXware Benelux, in October last year.