Shenzhen Ping An Bank implements Clear2Pay’s payments technology

Shenzhen Ping An Bank adapts real-time identity card verification

Shenzhen/ Brussels, 26 March 2008 - Clear2Pay, the international technology provider of next generation payment solutions for financial institutions implements the Online Citizen Identity Information Check System interface software at Shenzhen Ping An Bank, part of the Shenzhen Ping An Group.

Shenzhen Ping An Bank has implemented the interface software from Clear2Pay China at 90 sites to connect to the Online Citizen Identity Information Check System. Chan Mun Kiat, VP Sales at Clear2Pay China explains: “This solution implements a link between the bank’s customer account number/system and the database of the Public Security Department in China, allowing for real-time verification of the authenticity of identity cards used by individuals to open individual or corporate bank accounts. The Central Bank of China (PBOC) mandated this enhanced security last year”. This new online identification, whereby each bank account can be matched with a true and identifiable person will put a stop to the use of fraudulent and fake identity cards and as such provides a real-time fast and secure solution, which not only protects the bank, but the customers and the sector as whole as well”.

Huang Lin Yi, Director of the Technical Department at Shenzhen Ping An Bank, says: “This solution satisfies the standards and requirements of the citizen identify verification system required by the PBOC. Since Clear2Pay (China) implemented the solution for us, our bank can connect and tap into the records of the citizen identity database provided by the Public Security Department of China. This in turn has considerably increased our ability to verify a customer's identity whilst at the same time securing a fast process and rapidly executed transaction. With this solution our bank helps to reduce the financial whilst at the same time increasing customer service levels and their trust in our institution.”

The Clear2Pay China office is home to over 75 staff with a sales team headed up by Chan Mun Kiat and Frank Wu.

About Clear2Pay
Clear2Pay is an innovative financial technology company focused on delivering globally applicable solutions for secure, timely electronic payments. Headquartered in Brussels, Belgium, the company facilitates banks and financial organisations in their provision of payments services. Clear2Pay's technology helps to reduce transactions processing costs, and to deliver new, compelling payment services in a competitive way. Clear2Pay's payment solutions offer organisations easy, branded ways for their customers to pay online: from complex trade-supporting business-to-business environments, through e-commerce applications, to retail payments and remittance services. Functions embrace payments origination, reporting, linkage with back-office processing systems, clearing, netting and settlement. Clients include global and major regional financial institutions such as ING, SEB Kort, VISA, MasterCard, ABN AMRO, Nordea, Abbey National, Fortis Bank, ANZ and Commonwealth Bank. Clear2Pay operates out of Belgium, France, the Netherlands, Poland, Spain, United Kingdom, United States, Australia, China, Malaysia and Singapore and currently employs over 400 staff.
More information is available on www.clear2pay.com

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For more information:

Clear2Pay NV/SA
Conny Dorrestijn - VP Marketing and Communications
E:
M: +31 651 06 72 01

Contact details Clear2Pay China
Chan Mun Kiat
E:
T: +86755 26510777
F: +86755-26030700