Clear2Pay agrees Level Four acquisition

Clear2Pay agrees Level Four acquisition

Belgian electronic payments outfit Clear2Pay has inked an agreement to buy UK ATM testing specialist Level Four Software. Financial terms of the deal were not disclosed.

The Level Four product suite covers the entire test spectrum from the ATM terminal via the host to the developer's PC, helping banks and payment processors minimise errors and down-time.

Its clients include JP Morgan Chase, Bank of America, Royal Bank of Scotland, Standard Chartered, Lloyds, Barclays and existing Clear2Pay customer, Cedicam.

The firm's team of over 30 staff will be integrated in Clear2Pay's Open Test Solutions unit and carry on working from their offices in Scotland, the United Arab Emirates and US.

The Level Four takeover comes just months after Clear2Pay acquired US-based provider of payment test applications Lexcel Solutions.

Jürgen Ingels, co-founder and CFO, Clear2Pay, says: "This acquisition which follows on the heels of Lexcel Solutions Inc. (US) in June of this year, underlines our strategic commitment to the heart of the payments industry, of which payment testing is an essential and incremental part. The integration of all testing solutions (including Integri and Lexcel) into one compelling Open Test practice is now well underway."

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