Earthport Regulatory News (EPO)

13 Feb 2006 07:01

Earthport PLC12 February 2006 12 February 2006 Further Client Wins Earthport plc, the UK-based specialist in the provision of secure electronicpayment services, has signed the following service agreements: * Xoom Corporation As part of its increased focus on the money transfer industry, Earthport has signed an agreement with Xoom Corporation, which offers a web-based consumer money transfer service to offline recipients in dozens of countries. Xoom is the money service business funded by the same venture capital firms that backed Google, Yahoo, PayPal, Oracle, Apple, Macromedia, 3com and Salesforce.com Xoom CEO, James Joaquin commented: "The money transfer business is booming, in part because so many people are moving to seek jobs in other countries and want to send money home. But starting a money transfer business from scratch is wrought with difficulties, from complex regulatory issues, to tricky technology and logistical challenges. We're excited to be working with Earthport to help them capitalize on this growing market opportunity while being able to offer Xoom customers worldwide the opportunity to send money to the European countries where Earthport is so strong." * Earthport has also secured its first customer, BetClick, through the agreement with DataCash (announced in November). Earthport has now started processing electronic payments for BetClick, the UK based sports betting website, through its Universal Payment Network. * Other new contract wins including two with UK money transfer businesses, Express Money Transfer Services Limited and Sahoul Trading Limited. Mike Harrison, Executive Chairman of Earthport, commented: "Since setting up ournew sales and marketing team in the last quarter of 2005, Earthport has wonseveral new clients. These client wins offer immediate opportunities for revenuegrowth over the coming months and into the future. They demonstrate increasingconfidence in Earthport and increasing recognition that its UPN is the moneymovement utility of choice, with payment delivery services offered in over 120countries worldwide." For further information: Mike Harrison, Chairman Earthport plc +44 20 7220 9700Mark Ashurst Canaccord Adams +44 20 7518 2777Lulu Bridges / Paul Dulieu Tavistock Communications +44 20 7920 3150 Notes to Editors About Earthport Earthport plc is a UK-based company specialising in the provision of secureelectronic payment services. Earthport's key product is its Universal PaymentNetwork, a payment infrastructure which links directly to traditional and modernbanking systems around the world. The UPN allows parties to make and collectpayments using bank accounts and card services in a secure and compliantenvironment at affordable rates. The UPN enables payment delivery in over 120countries and in multiple currencies. The UPN is bi-directional and caters formicro to macro payments. Further information may be obtained from Earthport'swebsite at www.earthport.com About DataCash DataCash Group plc provides outsourced payment processing solutions for the realtime authorisation and settlement of credit and debit cards, corporatepurchasing cards, private label store cards, direct debits, direct credits andcheques. DataCash's solutions are suitable for merchants processing payments through anychannel including Internet, Interactive TV, Unattended Payment Terminal (UPT),Call Centre and IVR We also support Chip and PIN transactions. About Xoom Corporation Headquartered in San Francisco, California, Xoom Corporation offers remittanceproducts which make it easy for companies to build or expand an internationalmoney transfer business by taking care of the compliance, technology anddistribution issues that make it so complex. Xoom also offers a secure, fast,and inexpensive means for consumers to send money from the Xoom.com website tooffline recipients in dozens of countries. The company is privately held andfunded by the same venture capital firms -- Sequoia Capital, New EnterpriseAssociates and SVB capital -- that backed Google, Yahoo, PayPal, Oracle, Apple,Macromedia, 3com and Salesforce.com. This information is provided by RNS The company news service from the London Stock Exchange