Clear2Pay acquires Sienna Technologies

Monday 24 May 2004 14:00 CET | News

Clear2Pay has signed an agreement to acquire Sienna Technologies, a leading Asia Pacific-based company in electronic delivery and payment solutions, backed by one of Asias leading venture capital firms, Technology Venture Partners (TVP). Sienna Technologies payments products strongly complement the Clear2Pay next generation payment processing platform PayPark. The Sienna products will enhance PayParks component-based payment infrastructure for banks with components to service the full range of retail, SME, corporate and institutional clients. As a result, the Clear2Pay solutions will broaden the coverage of the full financial value chain from initiation to settlement of payments for high as well as low value payments for both domestic and cross-border transactions. Siennas blue chip client base in Australia includes National Australia Bank, Commonwealth Bank of Australia, ANZ, St. George and Reserve Bank of Australia. Asian customers include BCS in Singapore, and Krung Thai Computer Services (KCS), part of Krung Thai Group in Thailand. Under the agreement, specifics of which will not be disclosed, Sienna will become a wholly owned business unit of Clear2Pay, named Clear2Pay Asia Pacific, continuing to develop components of Clear2Pay’s payment hub and implementing and servicing clients in the Asia Pacific region. Sienna’s Warren Gardiner will be Vice President and General Manager Australasia. TVP’s Philip Wing will join the Board of Clear2Pay.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce