news.cuna.org/articles/FIS_acquires_Clear2Pay

FIS acquires Clear2Pay

September 10, 2014

JACKSONVILLE, Fla. (9/11/14)--Payments provider FIS will acquire Brussels-based Clear2Pay, a payments processing firm.

"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, FIS president/chief operating officer. The acquisition will enable its clients, especially large and global institutions, to realize a modern payments environment that encompasses all customer channels, simplifies payment operations, reduces costs and provides a better customer experience, he added.

The addition of Clear2Pay will bolster FIS' global payments capabilities worldwide and enhance its abilities to deliver differentiated enterprise payments solutions.

The transaction is subject to regulatory approvals and contractual closing conditions and is expected to close during the fourth quarter.