Less Ads, More Data, More Tools Register for FREE

Pin to quick picksEarthport Regulatory News (EPO)

  • There is currently no data for EPO

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Earthport expands in to Bangladesh

27 Nov 2017 07:00

RNS Number : 5053X
Earthport PLC
27 November 2017
 

27 November 2017

 

Earthport Plc

("Earthport" or the "Company")

 

Earthport Plc expands network into Bangladesh, enabling inbound payments

 

Earthport (AIM: EPO), the leading payment network for cross-border transactions, announces that it has partnered with BRAC Saajan Exchange Ltd ("BRAC Saajan"), the payments arm of BRAC Bank Ltd, Bangladesh's fastest growing bank, to deliver cross-border payment services into Bangladesh.

 

The new partnership enables payments into Bangladesh through the Earthport payment network, which provides a more cost-effective, secure and transparent solution for managing international payments.

 

The partnership marks Earthport's entry into Bangladesh, a country with a population of 165 million and a burgeoning payments market. As such, it is an important milestone in Earthport's longer-term strategy to increase the number of Asian markets it services, building on recent network expansion across the continent.

 

Abdus Salam, MD & CEO, BRAC Saajan Exchange Ltd, said: "BRAC Saajan always focuses on increasing the reliability and transparency of inward remittances and payments, which play a vital role in the GDP of the country. The partnership with Earthport allows us to serve all Bangladeshi clients and to play a key role in serving the regional payments infrastructure.

 

"We believe our large, secure distribution network and nativity to the Bangladeshi community complements Earthport's renowned global payment network and greatly supports the wider needs of Bangladeshis everywhere."

 

Hank Uberoi, CEO of Earthport, commented: "Earthport's strategic partnership with BRAC Saajan Exchange enables us to deliver increased efficiencies, reliability and transparency to cross-border payments into Bangladesh. We are now well positioned to further support the sustained growth in inbound global payment transactions the region is experiencing and to benefit from the opportunities this presents."

 

---ENDS---

 

For further information, please contact:

 

Earthport Plc 020 7220 9700

Hank Uberoi, Chief Executive Officer

Simon Adamiyatt, Chief Financial Officer

 

Newgate 020 7653 9848

Bob Huxford/James Ash

 

N+1 Singer (Joint Broker)  020 7496 3000

Mark Taylor/James White

 

Shore Capital (Joint Broker) 020 7408 4090

Toby Gibbs/Stephane Auton

 

 

 

 

About Earthport

Earthport provides cross-border payment services to banks and businesses. Through a single relationship with Earthport, clients can seamlessly manage payments to almost any bank account in the world, reducing complexity to meet their customers' evolving expectations of cost, speed and transparency.

Earthport offers clients access to global payment capability in 200+ countries and territories, with local ACH options in 65+ countries, and an evolving suite of currencies and settlement options.

Earthport continues to invest in the establishment of in-country bank partnerships across the world, bringing together its deep market and regulatory expertise in order to maintain compliant and commercially competitive services.

The result - a trusted global payments network accessed via a single relationship, delivering significant cost and operating efficiencies for banks and businesses servicing high volumes of lower value payments.

Headquartered in London with regional offices in New York, Dubai, Miami and Singapore, Earthport is a public company, traded on the London Stock Exchange (AIM: EPO) with an institutional investor base including World Bank IFC, Oppenheimer, Blackrock, Henderson.

Please visit www.earthport.com for more information.

 

About BRAC Saajan Exchange Ltd

BRAC Saajan Exchange Ltd (BRAC Saajan) started its journey as a small money transfer agent in 2003 as "Saajan Worldwide Money Transfer", concentrating on remittances from UK to Bangladesh. Soon it started to operate under its own arrangement with BRAC Bank Limited. Having arrangements with number of Bangladeshi Banks, in 2008 the sole trading business got its legal entity as "Saajan Worldwide Money Transfer Limited". Considering the expansion plan of the Company, BRAC Bank Limited of Bangladesh acquired more than 75% shares of the Company in January 2011, and renamed the Company as "BRAC Saajan Exchange Ltd".

BRAC Saajan pioneered the feature of Direct Credit that allows to credit the remittance in to the beneficiary's bank account within minutes. Beside BRAC Bank, currently this facility is available with two other major banks in Bangladesh, and integration is underway with other Banks. Apart from the Direct Credit facility, BRAC Saajan can also payout to any beneficiary to their bank accounts in Bangladesh, India, Pakistan, Sri Lanka, Poland and Ecuador.

BRAC Saajan is currently concentrating its investment in resources to enhance its services. In most cases the Company offers its services through its direct Agents located in UK, France, Italy, Spain, Portugal, Greece and Ireland. It also offers services to number of Corporate Clients.

Having its registered office located at Birmingham, the Company has regional offices at France, Italy, Spain, Portugal and Bangladesh.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCZMMZMKDZGNZM
Date   Source Headline
5th Apr 20187:00 amRNSDirector/PDMR Shareholding
4th Apr 20187:00 amRNSIssue of Equity and Director Dealings
27th Mar 20187:00 amRNSUnaudited Interim Results
22nd Mar 20187:00 amRNSNew York State money transmitter licence received
20th Mar 20187:00 amRNSJapan Post Bank expands Earthport relationship
15th Feb 20187:00 amRNSTrading Statement
2nd Feb 20187:00 amRNSBoard Changes
17th Jan 20187:00 amRNSBoard Changes
18th Dec 20177:00 amRNSTrading Update and Directorate Changes
5th Dec 201711:48 amRNSResult of AGM
27th Nov 20177:00 amRNSEarthport expands in to Bangladesh
22nd Nov 20179:00 amRNSIssue of Awards Under Long Term Incentive Plan
31st Oct 20177:00 amRNSFinal Results
26th Oct 20174:15 pmRNSHolding(s) in Company
25th Oct 20174:11 pmRNSHolding(s) in Company
23rd Oct 201710:50 amRNSResults of General Meeting
19th Oct 20177:00 amRNSNotice of Results
9th Oct 20177:00 amRNSEarthport announces contract with SECB
6th Oct 20174:25 pmRNSHolding(s) in Company
5th Oct 20172:44 pmRNSPublication of circular
5th Oct 201711:50 amRNSHolding(s) in Company
4th Oct 20178:13 amRNSResult of Placing
3rd Oct 20174:43 pmRNSProposed placing to raise not less than £25million
14th Sep 20177:00 amRNSEarthport announces partnership with Cross River
6th Sep 201710:07 amRNSNOTIFICATION OF MAJOR HOLDINGS
7th Aug 20177:00 amRNSEarthport Plc expands into Nigeria
3rd Aug 20177:00 amRNSEarthport Partners with Kotak Mahindra Bank
24th Jul 20177:00 amRNSFull Year Trading Statement
14th Jul 20177:00 amRNSNotice of Trading Update
12th May 20177:00 amRNSFurther re Appointment of Non-Executive Director
6th Apr 20177:00 amRNSIssue of Allocated Shares
29th Mar 20171:20 pmRNSIssue of Equity
21st Mar 20177:00 amRNSUnaudited Interim Results
20th Mar 20174:42 pmRNSHolding(s) in Company
14th Mar 20177:00 amRNSPosting of Notice of GM
7th Mar 20177:00 amRNSNotice of Interim Results
31st Jan 20177:00 amRNSTrading Statement
17th Jan 20177:00 amRNSBoard appointment
12th Dec 20167:00 amRNSExpanded Payments Access for BofAML Clients
5th Dec 20167:00 amRNSChange of Adviser
2nd Dec 201611:26 amRNSResult of AGM
21st Nov 20167:00 amRNSEarthport signs agreement with Axis Bank
15th Nov 20167:00 amRNSIssue of Equity
14th Nov 201612:32 pmRNSHolding(s) in Company
3rd Nov 20169:19 amRNSBoard Change and New CCO - Replacement
3rd Nov 20167:00 amRNSBoard Change and New Chief Commercial Officer
3rd Nov 20167:00 amRNSCross Border Payment Approval for Banks in India
26th Oct 20167:00 amRNSFinal Results
19th Oct 20167:00 amRNSNotice of Results
19th Oct 20167:00 amRNSAmendment to CVR Deed

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.