Earthport plc, the UK-based specialist in the provision of secure electronic payment services, has signed the following service agreements:
As part of its increased focus on the money transfer industry, Earthport has signed an agreement with Xoom Corporation, which offers a web-based consumer money transfer service to offline recipients in dozens of countries. Xoom is the money service business funded by the same venture capital firms that backed Google, Yahoo, PayPal, Oracle, Apple, Macromedia, 3com and Salesforce.com.
Xoom CEO, James Joaquin commented:"The money transfer business is booming, in part because so many people are moving to seek jobs in other countries and want to send money home. But starting a money transfer business from scratch is wrought with difficulties, from complex regulatory issues, to tricky technology and logistical challenges. We're excited to be working with Earthport to help them capitalize on this growing market opportunity while being able to offer Xoom customers worldwide the opportunity to send money to the European countries where Earthport is so strong."
Earthport has also secured its first customer, BetClick, through the agreement with DataCash (announced in November). Earthport has now started processing electronic payments for BetClick, the UK based sports betting website, through its Universal Payment Network.
Other new contract wins including two with UK money transfer businesses, Express Money Transfer Services Limited and Sahoul Trading Limited.
Mike Harrison, Executive Chairman of Earthport, commented: "Since setting up our new sales and marketing team in the last quarter of 2005, Earthport has won several new clients. These client wins offer immediate opportunities for revenue growth over the coming months and into the future. They demonstrate increasing confidence in Earthport and increasing recognition that its UPN is the money movement utility of choice, with payment delivery services offered in over 120 countries worldwide."