big-name customers, Belgian payment processing technology vendor
Clear2Pay has secured a contract to supply Commonwealth Bank of
Australia (CBA), Australia’s largest bank, with its Open Payment
Framework (OPF) solution.
Clear2Pay’s solution will be a key element in CBA’s Unified
Payments Capability (UPC) programme which aims to consolidate
payment processing into one central technology. The programme
covers retail and wholesale payments with the initial focus on
online card related transactions.
“We view our Unified Payments Capability programme very much as
a journey on which we wish to embark with a vendor who could offer
us new technology and a clear migration path,” said CBA’s executive
GM, payments and business technology, Paul Rickard. “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.”
Operating Australia’s largest financial services distribution
network, CBA has 1,009 branches, offers banking services at 3,800
Australia Post agencies, operates 3,300 ATMs and supports 187,000
electronic funds transfer POS terminals. CBA’s internet banking
service NetBank has 2.5 million active customers.
CBA adds to Clear2Pay’s strong new business flow which recently
included Spanish bank Santander which selected Clear2Pay’s OPF
solution for its group bank payments processing and other
underlying solutions including SEPA direct debit and credits.