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Crédit Agricole Implements Clear2Pay's Open Payment Framework (OPF)

Published 19 February 2010 | By Clear2Pay

CEDICAM, payments processor for the Crédit Agricole group opts for SOA technology for group-wide payments transactions.

21 April 2009: Today Clear2Pay, the international software vendor of next generation payment solutions for financial institutions announced that CEDICAM, Credit Agricole's payments and transaction platform, has chosen Clear2Pay's Open Payment Framework for the processing of payments (Credit and Debit Transfers) of the Group's banks.

In a first phase SDD debit transfers will be implemented on the basis of the Open Payment Framework and in a next phase SEPA Credit Transfers (SCT), international, high value and domestic payments will be transferred to the same platform. Crédit Agricole, with 30% market share the largest payment processor in France and second in Europe in terms of volumes, has opted for Clear2Pay's Open Payment Framework because of its proven and robust performance and its reliability and uncontested scalability.

Jean-Claude Perchet, Chief Executive Officer at CEDICAM comments: "In order to continue to play a role in the years to come among the European leaders in payments services, the Crédit Agricole group has adopted an ambitious strategy based on the one hand on a process of innovation and enrichment of the payment service offerings and secondly on the construction of a European platform for payments processing. CEDICAM has chosen the Open Payment Framework of Clear2Pay for its performance and flexibility."

Michel Akkermans, CEO and Chairman of Clear2Pay added: "We are particularly honoured and delighted that a leading global bank such as Crédit Agricole has opted to work with us. In firm and close partnership we have conducted the groundwork over the past few months and we have found that we are akin when it comes to a desire to both lead with innovative solutions and deliver with robust technology. Working closely together through challenging times for the banking industry has increased our mutual appreciation and forms a solid base for the years to come."