Manx Financial Regulatory News (MFX)

18 Jul 2008 07:00



18th July 2008

Earthport plc ("Earthport" or the "Company")

Agreement with TransSend (Conister Financial Group Plc)

Earthport plc, (EPO.L), the global payments utility, is pleased to announce that it has signed a contract with TransSend, a leading prepaid card provider. TransSend provides businesses with payment solutions that easily integrate into their existing payment processes to produce highly controllable, cost-effective ways of moving funds and creating new revenue opportunities. Prepaid card programmes can be tailored to meet a company's specific needs.

TransSend is the prepaid card division of Conister Financial Group (CFG.L) and works in partnership with its issuing bank Conister Trust Ltd, a principal member of MasterCard. This close relationship between programme manager and bank gives TransSend a strong competitive edge in delivering robust, secure and commercially successful card programmes. TransSend was the first company in Europe to receive MasterCard approval to offer a prepaid card to the non-US online gaming sector.

The integration process between Earthport and TransSend is at an advanced stage and both Companies believe that the first transactions will be processed imminently. Earthport will provide global card - loading and unloading, together with global payments and remittances. 

Under this agreement subsequent projects include:

Affiliate Commission Payments for the Leisure Industry

Payroll and remittance solutions for the Middle East region with major Corporates and Financial Institutions

TransSend, whose cards use the global ATM infrastructure, will be integrated to Earthport's utility. As card issuer, TransSend uses and operates MasterCard branded card programmes.

James Bergman, Chief Executive Officer, Earthport, said: "This is another important client win for Earthport. Financial services companies are becoming the major sector of our client base. This continues to underline our progress in the execution of our strategy. We look forward to working with TransSend to maximise our opportunities together."

Richard Jones, CEO of TransSend, said: "Earthport's combination of solid industry experience, country coverage and the ability to scale very quickly to meet our growth plans made them the ideal partner for us. This partnership will significantly enhance our prepaid offering to all our clients, allowing an individual to quickly and securely top up their prepaid account from the many countries that Earthport supports."

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About Earthport 

Earthport (www.earthport.com) specialises in the international transactional marketplace by providing a highly secure, high volume global collection and payment capability. It has been making national and international payments and collections since 1998. 

Earthport own, provide and host an international money movement platform called the Universal Payments Network. Using this platform, Earthport makes secure, low cost international bank payments and collections worldwide.