Earthport (AIM: EPO), the leading payment network for cross-border transactions, announces that it has partnered with BRAC Saajan Exchange Ltd (“BRAC Saajan”), the payments arm of BRAC Bank Ltd, Bangladesh’s fastest growing bank, to deliver cross-border payment services into Bangladesh.
The new partnership enables payments into Bangladesh through the Earthport payment network, which provides a more cost-effective, secure and transparent solution for managing international payments.
The partnership marks Earthport’s entry into Bangladesh, a country with a population of 165 million and a burgeoning payments market. As such, it is an important milestone in Earthport’s longer-term strategy to increase the number of Asian markets it services, building on recent network expansion across the continent.
Abdus Salam, MD & CEO, BRAC Saajan Exchange Ltd, said: “BRAC Saajan always focuses on increasing the reliability and transparency of inward remittances and payments, which play a vital role in the GDP of the country. The partnership with Earthport allows us to serve all Bangladeshi clients and to play a key role in serving the regional payments infrastructure.
“We believe our large, secure distribution network and nativity to the Bangladeshi community complements Earthport’s renowned global payment network and greatly supports the wider needs of Bangladeshis everywhere.”
Hank Uberoi, CEO of Earthport, commented: “Earthport’s strategic partnership with BRAC Saajan Exchange enables us to deliver increased efficiencies, reliability and transparency to cross-border payments into Bangladesh. We are now well positioned to further support the sustained growth in inbound global payment transactions the region is experiencing and to benefit from the opportunities this presents.”