LONDON (Alliance News) - Payment services company Earthport PLC on Tuesday said it has signed a cross-border payments deal with Japan Post Bank, the largest retail bank in Japan in terms of deposits.
Under the deal, Earthport will provide cross-border remittance services to the bank's customers. It said it is also in talks with a number of other post banks about the provision of cross-border services, though it did not name any specifically.
Earthport provided no financial details on the contract.
"We are proud to have Japan Post Bank as our customer, and recognise its need to service its customers with solutions that are more predictable, transparent, and cost-effective. This flagship partnership is a prestigious one for Earthport and is a positive endorsement of our offering as we discuss similar relationships with post banks across the globe," said Sajeev Viswanathan, executive director and president of global strategy for Earthport.
Shares in Earthport were up 4.3% to 42.75 pence on the news.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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