Earthport punts epDirect remittance service

Source: Earthport

Earthport plc, the provider of cross-border electronic payment services today announces the availability of its payments services through epDirect™. epDirect provides a simple to use online interface enabling payments to be made to more than 200 countries in the world for a flat per-transaction fee. These transactions are facilitated through Earthport's epClearing™ infrastructure.

Sign up fees will be waived for companies adopting epDirect before the end of October 2010.

epDirect extends Earthport's proven payments services through the addition of browser-based access, providing an out-of-the-box solution. New users are guided through the simplified onboarding process, transaction input and other steps by interactive videos, so that live processing can begin quickly and with the minimum of effort. epDirect is simple and intuitive, and requires no technical integration.

epDirect is suited to serve small-to-medium size businesses, whose cross-border transfers tend to be of lower value, and for which other payments services are often not cost effective or suitable. epDirect operates through bank accounts and to banking standards and therefore helps to grow the market for bank-based electronic payments.

Transfers via epDirect are funded directly from the client's own bank account. The service validates beneficiary and bank data, maximizing straight-through processing (STP) rates while minimising enquiries and exceptions. Users may access the system directly to manage transactions, check on balances and perform other management functions. It also provides users with access to receiving accounts around the world, providing an easy alternative to 'cardholder not present' e-commerce payments.

The Company has successfully completed beta testing throughout June and July 2010 with several customers who are currently live and transacting on the system. Earthport is now scaling up its epDirect service and offering it widely.

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