FIS Acquires Clear2Pay for $485 Million
Sept. 8, 2014
Banking technology and payments giant FIS bolstered its global payment processing capabilities last week when it revealed an agreement to acquire Clear2Pay for €375 million ($485 million). The Brussels-based payments processor, founded in 2001, has an extensive portfolio of financial-institution partners in Western Europe and Asia Pacific.
“The payments domain is one of the fastest-growing segments within the financial services industry and is a strategic growth and investment area for FIS,” said Gary Norcross, president and CEO of FIS. “Many institutions are struggling to adapt to the evolving global payments landscape, inclusive of high-value and cross-currency corporate payments and new channels. This strategic acquisition demonstrates our commitment to delivering the technologies and assets that will enable our clients, especially large and global institutions, to realize a truly modern payments environment that encompasses all customer channels, simplifies payment operations, reduces costs and provides a better customer experience.”