Clear2Pay to provide Commonwealth Bank of Australia with the OPF

International payments solutions provider Clear2Pay entered into agreement with the Commonwealth Bank of Australia to provide it with its Open Payment Framework. The OPF will allow the bank to implement its Unified Payments Capability program.

As the CBA explains, the Unified Payments Capability program is aimed at incorporating its payment processing into one central technology while including both retail and wholesale payments. The program’s prime focus is on online card related transactions.

Warren Gardiner, General Manager APAC at Clear2Pay states: “We have worked over a long period of time with Commonwealth Bank on this project of rationalization across their payments landscape. Their customers demand timely, efficient and cost-effective payments processing, hence the long term objective of minimizing the payments logic in the channels and products and lifting it into a mature enterprise service oriented unified payment capability. This decoupling of payment channels, products and systems is something we see and experience with clients around the world, and the managed migration path we can offer with pure SOA technology enables our customers to achieve those goals. As a company with a lot of heritage in Australia, we are proud and delighted to count its largest bank, Commonwealth Bank of Australia amongst our customer base.”