Clear2Pay and Earthport partner on low value clearing

Source: Clear2Pay

Clear2Pay, the international technology provider of next generation payment solutions for financial institutions announces today that it is partnering with Earthport, the cross-border payments service provider, on low value clearing capability for its US client base.

With the OPF Earthport Connect module, clients of the Open Payment Framework (OPF) will have out of the box connectivity to Earthport's global payments infrastructure in over 50 countries.

Earthport offers seamless clearing and settlement for low value payments in over 50 countries. With this capability in the Open Payment Framework, Clear2Pay clients will enjoy the benefits of predefined connectivity with Earthport's cross-border payments service.

Doug Gross, General Manager of Clear2Pay Americas states: "We see an increase in the volume of cross border low value payments in the United States and the lack of relationships and networks in this domain is proving to be a challenge for many US financial institutions. With the Earthport relationship we offer our customers the best of both worlds: clearing and settlement through a wide, cost-effective and proven network whilst at the same time maintaining all the benefits of a single view on their payments within the payment hub. "

Jonathan Lear, Head of Business North America, Earthport concludes: "This alliance will allow us to capitalize on existing client demand for integration between Clear2Pay's payments hub and Earthport's clearing and settlement service for end-to-end tracking and transparency. An integrated solution for our existing and prospective clients, where they can route both wire and Earthport payments, will enable them to deliver an efficient, differentiated service to their customers." 

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