CBA consolidates payments processing with Clear2Pay

CBA consolidates payments processing with Clear2Pay

Commonwealth Bank of Australia (CBA) has selected Clear2Pay's Open Payment Framework (OPF) in a bid to consolidate processing across the business on a single technology platform.

The move is part of the bank's Unified Payments Capability programme, covering retail and wholesale payments with the initial focus on online card related transactions.

Paul Rickard, executive general manager, payments and business technology, Commonwealth Bank, says: "Clear2Pay's Open Payment Framework is what we were looking for to support the delivery of our innovative programme which will ultimately allow us to enhance our payments services to customers."

Last April CBA outlined plans to move its core banking operations to the SAP for Banking platform under a four year, A$580 million programme to overhaul its legacy systems.

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