6 Aug 2015 07:00
6 August 2015
Earthport plc
("Earthport", the "Company" or the "Group")
New Client Win
Earthport Payment Network Supporting the International Money Transfer Services Market
Earthport (AIM: EPO.L), the leading payment network for cross border transactions, announces CurrencyFair, the peer-to-peer currency exchange company, has signed as a new client. CurrencyFair is the latest in a number of online money transfer clients to sign with Earthport in the last twelve months, confirming the Company's success in serving this growing industry sector.
CurrencyFair's peer-to-peer currency exchange marketplace enables consumers to make the exchange of funds quickly and simply. As a client of Earthport, CurrencyFair will use Earthport's extensive, reliable and cost-effective payment network to deliver payments locally on behalf of its customers. This will enable CurrencyFair to rapidly extend its customer proposition into new international markets.
Other money transfer companies to have signed with Earthport in the last twelve months include TransferWise, Fexco Pacific, WorldRemit and BEO Group.
TransferWise is a peer-to-peer money transfer service using real exchange rates without hidden fees. Earthport has enabled TransferWise to expand into new markets quickly and efficiently and meet a rapidly growing retail demand for transparent, simple and reliable cross-border money transfers.
Fexco Pacific enables small and medium sized business and non-profit organisations the ability to transfer money for a small fixed fee. With Earthport's global network Fexco's customers can make payments all over the world in numerous currencies in a cost effective, efficient way. This helps these organisations source imports more cost effectively and receive more for their exports or donations.
BEO Group, is one of Australia's longest established money transfer organisations providing ex-patriates -primarily from the Balkans--with a one-stop-shop for money transfers, travel arrangements and real estate purchases. Earthport helps BEO Group meet its clients' needs by providing transparent, predictable and efficient cross-border payments.
WorldRemit is a leading money transfer operator benefiting from Earthport's transparent and efficient cross-border payments service as it launches new direct-to-bank account products country by country.
Further money transfer companies also benefiting from Earthport's solution include Azimo, Viamericas, Western Union, and Xoom.
Hank Uberoi, Chief Executive Officer of Earthport, said: "The mass migration of labour, explosive growth in global trade and rise of digital commerce continues to fuel the growing demand for cost-effective, reliable, simple ways of transferring money across borders. We are proud that Earthport, through its global payment network, is bringing about a new era of cross-border payments, streamlining the back-end infrastructure for payments service providers."
For further information, please contact:
Earthport plc Hank Uberoi, Chief Executive Officer Simon Adamiyatt, Chief Financial Officer
| 020 7220 9700 |
Charles Stanley Securities Mark Taylor / Paul Brotherhood
| 020 7149 6000 |
Panmure Gordon Fred Walsh / Duncan Monteith / Maisie Atkinson
| 020 7886 2500 |
Newgate Communications Tim Thompson / Bob Huxford / Alex Shilov / Helena Bogle | 020 7653 9850 |
About Earthport
Earthport plc powers cross-border payments for financial institutions, digital commerce, money transfer companies, payment gateways and public sector entities. One connection to Earthport brings clients access to the largest open network for global bank payments, with integrated sophisticated validation and compliance services. Our in-country experts across the globe deliver solutions to our customers, who are among the most admired and innovative brands in the world and rely on Earthport to support their global trade, digital commerce and remittance operations.
Earthport is transforming the future of cross-border payments, satisfying the need for fast, cost efficient, transparent and reliable payments. Earthport is headquartered in London and is listed on the Alternative Investment Market (AIM) on the London Stock Exchange. It operates globally with an office in 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. Among the FinTech50, Earthport is the recipient of the 2015 Grant Thornton Technology company of the year award and FStech Retail Systems' 2014 B2B Payments Innovation of the Year. For more information, visit www.earthport.com, via RSS, social channels, Twitter @Earthport, LinkedIn, Google+, Youtube and Slideshare.