Earthport Regulatory News (EPO)

26 Oct 2006 09:00

Earthport PLC26 October 2006 26 October 2006 Earthport plc ("Earthport" or "the Company") Joins SWIFT Closed User Group Earthport plc, the UK-based, AIM listed company specialising in the provision ofa secure electronic payments network, is pleased to announce that it hassignificantly extended the scope of its network by becoming a member of SWIFT. SWIFT is the industry-owned co-operative supplying secure, standardisedmessaging services and interface software to nearly 8,000 financial institutionsin 206 countries and territories. SWIFT members include banks, broker-dealersand investment managers. The broader SWIFT community also encompasses corporatesas well as market infrastructures in payments, securities, treasury and trade. Earthport is the first payments company to be joining SWIFT through a MemberAdministered Closed User Group which will provide the following key benefits andadvantages: * Direct Access to Interbank Transfers * Harmonisation of banking applications * Centralised and standardised reporting, including ability to receive intra-day and per movement reporting * Increased efficiency in sending payment instructions * Increased reach of territories and currencies supported * Improved communication with banks via SWIFT Free Format messages - will aid in resolution of queries, tracking and tracing of funds * Reduction in development time & resource in the integration of banks, as, reporting from the relevant bank will be able to be sent to the EPO SWIFT BIC and all payment instructions will be within the SWIFT Standards * Improved account opening process in that initial communication can be made by SWIFT. Earthport is currently testing the links to and from SWIFT and expects that afull service will be available within six weeks. Mike Harrison Chairman of Earthport plc commented: "Joining SWIFT is a landmarkstep in the continuing development of Earthport. Membership of SWIFT willradically improve the Company's ability to provide cost effective, fast andsecure payment services to customers world wide, and demonstrates the Company'sincreasingly important role in the market as it drives to become the MoneyMovement Utility of Choice." - ENDS - Press Enquiries: Mike Harrison, Chairman - earthport plc +44 20 7220 9700 Lulu Bridges/Paul Dulieu - Tavistock Communications +44 20 79203150 About Earthport Earthport plc is a UK-based, AIM listed, electronic payments and collectionsprovider. It has established banking and card processing relationships that areintegrated into the companies Universal Payments Network ( UPN). Earthportoffers transaction services to businesses seeking an alternative to the highcost international money transfer pricing. Earthport has invested significantlyin its global network of banking relationships and continues to do so. It ispossible to make payments to over 190 countries and collect from over 35.Further information may be obtained from Earthport's website atwww.earthport.com This information is provided by RNS The company news service from the London Stock Exchange