Earthport Broadens Footprint in LATAM with New Payments Routes in Mexico and Colombia

Earthport rolls out cross-border payments service into Mexico and Colombia to enhance its geographic reach

London, UK – 18 February 2014 – Earthport, the cross-border payments service provider, today announced the launch of two payment routes into Mexico and Colombia to broaden its footprint in the Latin American region. The new payment corridors will enable clients to offer faster and more efficient payments into these markets, while allowing them to benefit from greater transparency and improved customer experience.

At $22bn (£14bn) worth of remittance payments a year, Mexico is the fourth largest remittance market in the world after India, China and the Philippines. The addition of this route enables Earthport to serve three of the top four global remittance destinations.

Moreover, with a significant number of emigrants to the U.S., Colombia is the fourth largest remittance destination in Latin America. The addition of this route will allow Earthport to provide services to three of the top four remittance markets in the LATAM region, enabling clients to quickly roll out remittance payment services in response to the increasing demand for more transparent and efficient payments into the region.

“The addition of Mexico and Colombia will further cement our position as the specialist white-label service for low value payments with a global footprint in all continents,” said Paul Thomas, executive director at Earthport.

“In addition to leveraging our local clearing capabilities in more than 50 countries, clients will benefit from a payments service that achieves the transparency required under Dodd-Frank 1073. Our service enables our clients to provide advance disclosure of the principal amount and settlement dates of cross-border transfers, resulting in improved transparency and predictability as well as enhanced customer experience,” he added.

About Earthport
Earthport plc, a regulated global financial services organisation, specialises in the provision of a white label cross-border payments service.

Through its innovative payments framework, specifically designed for high volumes of low value cross-border payments, Earthport provides a cost-effective and transparent service for secure international payments. Earthport’s clients include banks, money transfer organisations, payment aggregators, e-commerce and foreign exchange businesses. Through Earthport’s well established payments infrastructure, clients can clear and settle payments directly to banked beneficiaries in over 50 countries.

The company is headquartered in London and is listed on the Alternative Investment Market (AIM) on the London Stock Exchange. It operates globally with additional regional offices in Dubai and New York. Earthport plc is authorised and regulated by the Financial Conduct Authority under the Payment Service Regulations 2009 for the provision of payment services. To learn more, please visit www.earthport.com and follow us via RSS or on social channels, Twitter @Earthport, LinkedIn, Youtube and Slideshare.

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Media Contacts:
Claudia Urquiola or Terri Bloore, Finn Partners
T: +44 207 148 4403 / +44 207 148 4401
E: claudia.urquiola@finnpartners.com / terri.bloore@finnpartners.com

Source: RealWire