Earthport (AIM: EPO), the global payments specialist, has been appointed by BNP Paribas to provide Automated Clearing House (ACH) cross-border payment services.
BNP Paribas Fortis, a subsidiary of BNP Paribas, and Belgium’s largest bank with annual revenues of €43bn will be the first to deploy these services.
By partnering with Earthport, BNP Paribas will gain access to Earthport’s payments network offering lower cost and transparent international payments. Earthport’s bank-grade compliance and regulation expertise also reinforces BNP Paribas’ existing risk and compliance framework. This allows it to provide services into new regions quickly and easily in line with customer requirements.
Damien Godderis, Head of Payment Networks - Payments and Receivables Cash Management, at BNP Paribas, said: “We are committed to providing the best service and options to our customers. Earthport supports us in doing this through the global reach of its payment network, which means our customers have access to established as well as emerging markets which are increasingly becoming more important.”
Amanda Mesler, CEO of Earthport, commented: “We are delighted to have reached the first stage of live deployment with BNP Paribas. This is just the start of our collaboration, and we look forward to rolling out our services across the group. Consumers and businesses expect the same ease and speed for their international payments as they get with domestic ones. That’s why this collaboration is focussed on evolving our network and setting new industry benchmarks on predictability and transparency for our clients and their customers.”
Earthport provides cross-border payment services to banks and businesses. Through a single relationship, Earthport offers access to a truly global ACH network bringing new levels of predictability, transparency and cost-efficiency without intermediary deductions or landing fees. Through bank-grade compliance expertise, Earthport provides peace of mind to its clients, supporting them with their growth through end-to-end FX, treasury and cash management solutions.