Dublin-based retail banking solutions provider CR2 Group has purchased the intellectual property rights to Flexicom’s Acquirer card processing system.
The Flexicom Acquirer product range is used by banks and third party processors to manage and process card transactions on behalf of merchants. It supports single and multi-currency transactions, is modular in design, and caters for merchant accounting and full customisable statements and fees. In addition, it authorises routing, batch capture, hot card management, and clearing and settlement.
CR2 has taken on 18 Flexicom staff to support and implement the Acquirer product.
CR2 says the acqusition will complement its CardWorld suite, which currently includes card production, card management and payment switches. As part of the deal CR2 has also secured rights to an end-to-end secure payments gateway, designed to allow banks and third parties to accept and process transactions securely from merchants over the Internet.