Earthport wins multi-year contract with HSBC

AIM-listed Earthport, the cross-border payments service provider, announced it has signed a multi-year contract with HSBC with a 'significant' minimum revenue commitment.The contract will allow the group to expand the coverage of its global disbursements product across countries in Central and Eastern Europe, and the Asia Pacific region.The new contract comes after the group secured a three-year contract with WorldRemit, a global online money transfer business, last month.Chief Executive Officer Hank Uberoi said: "I am delighted that HSBC, one of the largest banking and financial services organisations in the world with a reputation for global service, has chosen Earthport to enhance its cross-border payments product. "This is another significant contract with minimum revenue commitments that Earthport has signed with a major Tier 1 bank within a few months. In addition to increasing future visibility, this contract demonstrates Earthport's increasing traction and unique strategic positioning within the payments ecosystem." As of 11:02, the share price had risen 5.68% to 46p.WS