Clear2Pay Harvests Further Success in China With BNPP (China) CNAPS Project

Clear2Pay Harvests Further Success in China With BNPP (China) CNAPS Project

October 04, 2007

Clear2Pay Connects BNP Paribas (China) to Local CNAPS
Payments Infrastructure

    SHENZHEN, China and BOSTON, Oct. 4 /Xinhua-PRNewswire/
-- Clear2Pay, the international technology provider of next
generation payment solutions for financial institutions
announces its agreement with BNP Paribas China for the
CNAPS Core Payment System (CCPS) project at the start of
the SIBOS Conference in Boston, USA.
   
    The CCPS projects will connect the payment operation of
BNPP China to the China Advanced Payment System, the
so-called CNAPS infrastructure for both high value payments
and bulk payments processing, which will ensure that BNP
Paribas China is fully integrated and connected with the
local Chinese banking system.
   
    "This solution will give us the ability to have
full Straight-Through-Processing for all local currency
transactions, thus providing us with a foundation to offer
our customers a broader range of services. This will enable
us to expand our business in China, says Charles Chen, Head
of Cash Management at BNP Paribas (China). The system will
be used by all BNPP China entities with a launch in the
Shanghai and Beijing branches.
   
    "China is going through a series of payment
reforms, a move away from a wide range of national schemes
into fewer more centralised clearing systems", states
Michel Akkermans, Chairman and CEO of Clear2Pay.
"Foreign banks operating in China need to be able to
connect to local payment infrastructures such as CNAPS,
whilst at the same time being able to reconcile with their
own internal systems. We are delighted that a top rated
bank like BNP Paribas turned to Clear2Pay to facilitate
their payments processing in China."
    
    The Clear2Pay China office is home to over 40 staff
with a sales team headed up by Chan Mun Kiat and Frank Wu.

    About Clear2Pay

    Clear2Pay is an innovative financial technology company
focused on delivering globally applicable solutions for
secure, timely electronic payments. Headquartered in
Brussels, Belgium,the company facilitates banks and
financial organisations in their provision of payments
services. Clear2Pay's technology helps to reduce
transactions processing costs, and to deliver new,
compelling payment services in a competitive way.
Clear2Pay's payment solutions offer organisations easy,
branded ways for their customers to pay online: from
complex trade-supporting business-to-business environments,
through e-commerce applications, to retail payments and
remittance services. Functions embrace payments
origination, reporting, linkage with back-office processing
systems, clearing, netting and settlement. Clients include
global and major regional financial institutions such as
ING, SEB Kort, VISA, MasterCard, ABN AMRO, Nordea, Abbey
National, Fortis Bank, ANZ and Commonwealth Bank. Clear2Pay
operates out of Belgium, the Netherlands, Poland, Spain,
United Kingdom, United States, Australia, China and
Singapore and currently employs 260 staff. More information
is available on http://www.clear2pay.com

    NOTE TO EDITORS: Picture available for download on the
press section of the Clear2Pay website: 
http://www.clear2pay.com
    
    Left to right: Chan Mun Kiat, GM Clear2Pay China,
Jusiah Choi, Director & Deputy CEO, BNP Paribas (China)
Limited, Jack Li, COO, Clear2Pay China.


    For more information, please contact:

     Conny Dorrestijn
     VP Marketing and Communications
     Clear2Pay NV SA
     Mobile:  [phone]
     Email:   [e-mail]

     Chan Mun Kiat sales, Frank Wu sales
     Jack Li  COO
     Clear2Pay China
     Tel:     [phone]
     Fax:     [phone]
     Website: http://www.clear2pay.com