LONDON, October 11, 2018 /PRNewswire/ --
Earthport (AIM: EPO), the global payments specialist, has been appointed by BNP Paribas to provide Automated Clearing House (ACH) cross-border payment services. BNP Paribas Fortis, a subsidiary of BNP Paribas, and Belgium's largest bank with annual revenues of €43bn will be the first to deploy these services.
By partnering with Earthport, BNP Paribas will gain access to Earthport's payments network offering lower cost and transparent international payments. Earthport's bank-grade compliance and regulation expertise also reinforces BNP Paribas' existing risk and compliance framework. This allows it to provide services into new regions quickly and easily in line with customer requirements.
Damien Godderis, Head of Payment Networks - Payments and Receivables Cash Management, at BNP Paribas, said: "We are committed to providing the best service and options to our customers. Earthport supports us in doing this through the global reach of its payment network, which means our customers have access to established as well as emerging markets which are increasingly becoming more important."
Amanda Mesler, CEO of Earthport, commented: "We are delighted to have reached the first stage of live deployment with BNP Paribas. This is just the start of our collaboration, and we look forward to rolling out our services across the group. Consumers and businesses expect the same ease and speed for their international payments as they get with domestic ones. That's why this collaboration is focussed on evolving our network and setting new industry benchmarks on predictability and transparency for our clients and their customers."
Earthport provides cross-border payment services to banks and businesses. Through a single relationship, Earthport offers access to a truly global ACH network bringing new levels of predictability, transparency and cost-efficiency without intermediary deductions or landing fees. Through bank-grade compliance expertise, Earthport provides peace of mind to its clients, supporting them with their growth through end-to-end FX, treasury and cash management solutions.
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 costs and complexity to meet their customers' evolving expectations of price, speed and transparency. Earthport offers clients access to global payment capability in 200+ countries and territories, with local ACH options in 80+ 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 to maintain compliant and commercially competitive services.
The result - a 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).
About BNP Paribas
BNP Paribas (http://www.bnpparibas.com ) is a leading bank in Europe with an international reach and presence in 73 countries. The Group has key positions in its three main activities, Retail Banking, Financial Services and Corporate & Institutional Banking, which serves two client franchises, corporate clients and institutional investors. BNP Paribas supports all its clients (individuals, communities, associations, entrepreneurs, SMEs, corporates and institutional clients) in their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Central and Eastern Europe and through a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
For more information on BNP Paribas Cash Management, please visit https://cashmanagement.bnpparibas.com
For media enquiries:
Tim Masih, Earthport: [email protected] , +44(0)207-220-9729
Apoorva Dwivedi, BNP Paribas: [email protected] , +32-2-312-5849