Clear2Pay increases its presence in Chinese market and buys ETH Tech

Belgian payments outfit Clear2Pay will acquire all shares in Beijing-based vendor ETH Tech, which was founded in 2004 and focuses on business intelligence for banks, financial institutions, government agencies and large corporations.

Among the company's clients are China Construction Bank, China National Clearing Centre, Bank of China and the central bank, People's Bank of China.

Clear2Pay will rebrand ETH Tech as Clear2Pay Beijing, with the office home to around 20 staff, bringing the vendor's total count in China to 80.

In addition, the unit will work in conjunction with Clear2Pay's Shenzhen office on developing, integrating and implementing payments systems for Chinese banks and other financial institutions.