6th Aug 2015 07:45
LONDON (Alliance News) - Earthport PLC, the provider of cross-border payment network systems said on Thursday it has signed the peer-to-peer currency exchange company CurrencyFair Ltd as a new client.
Earthport said that 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 payment network to deliver payments locally on behalf of its customers.
Earthport has signed money transfer companies, TransferWise, BEO Group and WorldRemit as new clients in the last twelve months.
No financial details on the deal were disclosed.
"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," said Earthport Chief Executive Officer Hank Uberoi.
Shares in Earthport trade up 3.5% at 41.91 pence Thursday morning on the news.
By Preten Patel; [email protected]
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