21st Nov 2016 09:31
LONDON (Alliance News) - Payment network provider Earthport PLC said Monday it has signed an agreement to enable cross-border payments for clients of India's Axis Bank.
Earthport said this was the first agreement it has reached since its approval by the Reserve Bank of India to provide outbound cross-border payment services to Indian banks.
"This agreement with Axis Bank, one of the most tech-savvy banks in the country, is testimony to our pioneering cross-border payments capabilities. Earthport's vast global network and unique business model, together with our deep market and regulatory expertise, positions us as a reliable partner to banks in India, as they shape the exciting and promising economic future of the country," said Hank Uberoi, chief executive officer of Earthport.
Shares in Earthport were up 6.8% at 19.75 pence on Monday.
By Adam Clark; [email protected]
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