24 February 2018
visit www.nextgenbanking.co.uk/

Clear2Pay buys China's ETH Tech

24 June 2009  |  4821 views  |  0 Chinese flag

Belgian payments outfit Clear2Pay has moved to increase its presence in the lucrative Chinese market by agreeing a deal to buy Beijing-based vendor ETH Tech. Financial terms were not disclosed.

Clear2Pay China will acquire all shares in ETH Tech, which was founded in 2004 and focuses on business intelligence for banks, financial institutions, government agencies and large corporates.

The company's clients include China Construction Bank, China National Clearing Centre, Bank of China and the central bank, People's Bank of China.

ETH Tech will be rebranded as Clear2Pay Beijing, with the office home to around 20 staff, bringing the vendor's total count in China to 80.

The unit will work in conjunction with Clear2Pay's Shenzhen office on developing, integrating and implementing payments systems for Chinese banks and other financial institutions.

Explaining the acquisition, Warren Gardiner, GM, Asia Pacific, Clear2Pay, says: "When working with Chinese banks on a number of projects, the name of ETH Tech came up on several occasions. We soon found out that there is a wonderful synergy between the two Chinese operations on the one hand and between Clear2Pay Beijing and our core Clear2Pay payments technology on the other."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

CBA consolidates payments processing with Clear2Pay

CBA consolidates payments processing with Clear2Pay

03 March 2009  |  6840 views  |  0 comments
Bank of Thailand selects Clear2Pay and OGA for cheque imaging system

Bank of Thailand selects Clear2Pay and OGA for cheque imaging system

20 January 2009  |  4607 views  |  0 comments
Clear2Pay raises EUR6m in internal funding round

Clear2Pay raises EUR6m in internal funding round

16 December 2008  |  5826 views  |  0 comments
Clear2Pay raises EUR10m

Clear2Pay raises EUR10m

28 January 2008  |  4643 views  |  0 comments
Clear2Pay buys e-banking outfit Diagram EDI

Clear2Pay buys e-banking outfit Diagram EDI

05 December 2007  |  6364 views  |  0 comments
Clear2Pay acquires testing systems outfit Integri

Clear2Pay acquires testing systems outfit Integri

12 November 2007  |  6170 views  |  0 comments
Clear2Pay gets EUR130,000 grant for Sepa direct debit strategy

Clear2Pay gets EUR130,000 grant for Sepa direct debit strategy

18 January 2007  |  13421 views  |  0 comments
Clear2Pay moves into Asia Pacific market with Sienna acquisition

Clear2Pay moves into Asia Pacific market with Sienna acquisition

24 May 2004  |  5250 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://info.nice.comVisit www.vasco.comvisit www.ebaday.com

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
11789 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10325 views 3 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
8564 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8088 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
7770 views comments | 10 tweets | 14 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job