Earthport reports US deals

Earthport reports US deals

UK electronic payments company Earthport is reporting a number of contracts in the US including a deal to establish a joint venture for processing Automated Clearing House (ACH) transactions, called ACH Cash.

AIM-listed Earthport says its will own 50% of the ACH Cash venture, with the remaining 50% held by an undisclosed joint venture partner. The service will be registered in Nevada.

Earthport has also inked a deal to provide an international card loading infrastructure for Global Cash Card, which provides pre-paid ATM/debit cards.

In addition the vendor has signed an agreement with MyECheck, a Check 21-based Internet payment application, and is also reporting a contract with Smart Card Marketing Systems whereby it will become Smart Card's preferred aggregator for debiting and crediting of funds for international services.

Commenting on the new contracts, Mike Harrison, chief executive, Earthport, says: "These agreements demonstrate the widening appeal of Earthport's infrastructure offering to those involved in the global remittance market."

Earthport shares had risen 15.90%, to 25.50 pence, by lunchtime on the news.

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