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Banco Mercantil Adopts Clear2Pay Payment Technology

Banco Mercantil, a Venezuela-based financial holding company, has gone live with the new Clear2Pay Electronic Bill Presentment & Payment (EBPP) solution, to gain efficiencies, and reduce costs.

The TODO1 customized EBPP solution features 24/7 self-service bill processing and a robust payment engine. TODO1 is a provider of Software as a Service e-commerce to the banks in Latin America.

The solution was developed in response to customer requests for both accounts receivable management solution for business and corporate customers, and fully featured payment capabilities for both retail and commercial banking customers within their existing web-based banking interactions.

Felipe Uribe, CEO of TODO1 Services, said: “Our relationship with Clear2Pay has been very fruitful and expanding for several years. Clear2Pay has consistently delivered high quality and innovative payment solutions that allow us to focus on creating new and innovative payment solutions for our customers and bring those to market in a short time frame.”

Matt Ellis, general manager of Clear2Pay Americas, said: “Latin America is a strategic market for Clear2Pay and TODO1 remains our lighthouse client in the region. We see more and more financial service providers who wish to deploy our open payment framework based payment solutions in the SaaS model. This allows them to reduce cost and increase product revenue, so they can focus on their core financial services expertise without worrying about the technology.”

Clear2Pay is a financial technology company focused on delivering globally applicable solutions for secure, timely electronic payments.