Source: Clear2Pay
Clear2Pay, the international technology provider of next generation payment solutions for financial institutions, today announces an agreement with Bancontact MisterCash Company, owner of the Belgian debit card scheme, covering the testing of the implementation of the card scheme's new switching infrastructure.
Clear2Pay will validate the implementation of the scheme switch as well as the acquirer and issuer processors connecting to this new switch, on behalf of Bancontact MisterCash Company.
European card schemes, such as Bancontact/Mister Cash, need to adhere to the regulations of the Single Euro Payments Area (SEPA), the EU integration initiative for the harmonization of card payments. After careful examination, the shareholders of Bancontact/Mister Cash decided, in February last year, to adapt their payment system to these European standards whereby installing a new, SEPA compliant switch. The aim is that the infrastructure will be ready to accept new players by mid 2013.
To guarantee the stability of the new payment system and the conformance to the functional SEPA specifications, Bancontact MisterCash Company selected Clear2Pay to develop a customised test solution and set up an end-to-end certification environment. In addition, Clear2Pay's Managed Services will accredit all acquirer and issuer processors that require connection to the Bancontact/Mister Cash switch, thus ensuring a smooth, secure payment transaction process. To allow preparing accurately for connection onto the future proof infrastructure, Bancontact/Mister cash will offer their member processors a Clear2Pay pre-certification test solution.
Kris De Ryck, CEO at Bancontact MisterCash Company: "In order for us to stay an efficient, secure and reliable debit card scheme, we need to ensure that our products and infrastructure are up to the demands of today's and tomorrow's needs. We chose Clear2Pay to support us in our quality management: a partner with in-depth payment knowledge and 25+ years of experience in the testing industry".
Marie Costers, Head of Operations, Clear2Pay Open Test Solutions says:"We are delighted to cooperate in enabling major companies to tackle the major testing challenges in getting ready for the new (SEPA) payment reality. With Bancontact/Mister Cash widening its sccope of both products and players, testing becomes ever more important to achieve optimum results for all stakeholders involved."