Payment technology provider Clear2Pay has
acquired US-based payment test applications company Lexcel
Solutions to expand its global footprint and strengthen its
portfolio of payment testing solutions.
Lexcel Solutions provides payment testing
software and services to third-party payment transaction
processors, debit and credit networks, financial institutions,
retailers, ATM/POS manufacturers and government organisations.
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It is believed once Lexcel’s testing solutions
combines with Clear2Pay’s Integri-branded test product range, one
of the most robust end-to-end testing platforms in the marketplace
will be created.
“The Lexcel acquisition is a perfect fit with
our growth strategy of both expanding our footprint, as well as our
product range,” said Michel Akkermans, chairman and CEO of
Clear2Pay.
“We feel that payments modernisation requires
more than flexible technology alone. Testing across the full
process chain from device manufacturer to processor and the end
user is of vital importance to the delivery of secure payments or
value in an increasingly unified and hybrid world. With the new
combined test tool offering we can support the broadest possible
range of devices and technologies and thus develop testing as a
strategic line of business for the bank, card and mobile payment
space alike”.
The Lexcel acquisition is the second deal to
be funded by the proceeds of Clear2Pay’s €50m capital increase – a
funding round which concluded in late 2009 with a consortium led by
Aquiline Capital Partners. Jürgen Ingels, CFO and co-founder of
Clear2Pay, expects more acquisitions to follow in the coming
quarters that will “further enhance Clear2Pay’s position in the
global payments industry”.
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