Actrade Financial Technologies Establishes E-TAD Clearing Center
Announcing a ‘strategic change of direction’, US-based electronic payment technology supplier Actrade has created E-TAD Clearing Center, to provide payment, settlement and data management services. Actrade will now focus on the licensing of its payment processing technology through strategic alliances and to financial institutions. The ECC will provide these processing services to third party banks, corporations and financial institutions that private label Actrade’s payment processing technology. Actrade will continue to originate E-TADs (electronic trade acceptance drafts), but will focus on high quality credit risks while also marketing the ECC’s centralised processing capabilities. Actrade intends to increase the percentage of E-TADs sold to third parties without recourse from its current level of approximately 66% of originations last quarter.