15 Oct 2014 07:05
15 October 2014
Earthport plc
("Earthport" or the "Company")
Contract in New Market Segment - Prepaid Cards
Banco do Brasil Americas selects Earthport's service to power its international card to bank transfers, enhancing its pre-paid student card product offering
Earthport (AIM: EPO.L), the cross-border payments services provider, is pleased to today announce that it has signed a contract with Banco do Brasil Americas in a new market segment. This new and innovative use of the Earthport service is an initial entry into the prepaid card market. Under the terms of the agreement, Earthport will provide its international payments infrastructure on a white-labelled basis to Banco do Brasil Americas and enhance the bank's pre-paid student multicurrency card product.
Banco do Brasil Americas offers multicurrency pre-paid student cards to students to enable them to safely and easily take scholarship funds abroad. The cards, which offer a sensible and secure alternative to carrying cash, are reloadable; ideally suited to meet the financial needs of students who study internationally. This award winning bank card, will offer a new product differentiator; a secure, fast, and efficient card to bank international transfer service, which will empower student card holders to safely transfer funds from their cards to local bank accounts in Europe, the UK, Canada, Australia or Latin America to make payments for living accomodations and school services. "We are excited to offer an enhanced funds transfer solution to our clients. Our goal is to help make the funds management process simpler, faster and convenient. Our partnership with Earthport allows us to offer an efficient, cross-border payments network, building more innovative solutions for our clients" commented, CEO of Banco do Brasil Americas, Antonio Cassio Segura. Earthport's efficient and transparent multi-currency payments service uniquely informs of fees and rates upfront and provides insight into payment timescales- meaning the bank can keep fees to price-sensitive consumers, like students, very competitive. Earthport's international payments service enables compliant low-value payments directly to 60 countries across six continents. Earthport also transacts to 140 additional countries through traditional correspondent banking methods and continues to expand its reach.
Hank Uberoi, CEO at Earthport, said: "This is an exciting partnership for Earthport, and one which sees our service being used in a new and innovative way. Banco do Brasil Americas is bringing a product to market which will make the payments experience more secure and efficient for international students, while helping them to better manage their expenses with their families. I am pleased to see new products being created by our clients based on our core payment capabilities."
For further information, please contact:
Earthport plc Hank Uberoi
| 020 7220 9700 |
Charles Stanley Securities Mark Taylor / Paul Brotherhood
| 020 7149 6000 |
Panmure Gordon Fred Walsh / Duncan Monteith
| 020 7886 2500 |
Newgate Threadneedle Fiona Conroy / John Coles / Jasper Randall
| 020 7653 9850 |
About EarthportEarthport plc is a regulated financial services organisation and one of the largest open networks for global bank payments through its cross-border payments infrastructure.
Through a single connection to Earthport's highly sophisticated payments network, customers can quickly and transparently deliver payments to over 190 countries and 65 low-value clearing systems around the world in a highly cost-effective and secure manner. Earthport's clients include banks, e-commerce providers, money transfer companies and payment administrators.
The company is headquartered in London and is listed on the Alternative Investment Market (AIM) on the London Stock Exchange. It operates globally with additional regional offices in Dubai and New York. Earthport plc is authorised and regulated by the Financial Conduct Authority under the Payment Service Regulations 2009 for the provision of payment services. To learn more, please visit www.earthport.com and follow us via RSS or on social channels, Twitter @Earthport, LinkedIn, Youtube and Slideshare.
About Banco do Brasil Americas
Banco do Brasil Americas, a subsidiary of Banco do Brasil, offers a broad array of financial services and products including retail banking, business and corporate banking. For over 200 years, Banco do Brasil has provided efficient, trustworthy banking to Latin America and the world. In January 2012, Banco do Brasil expanded its model by acquiring Eurobank Florida. Banco do Brasil Americas was established to create a solid, reliable presence in the US market. Five full-service branches are open in Miami, Boca Raton, and Pompano Beach. Each branch is staffed with employees who speak English, Portuguese and Spanish. Visit www.bbamericas.com for more information.