Earthport PLC First Payments Route into North Africa (0475F)

TIDMEPO

RNS Number : 0475F

Earthport PLC

20 May 2013

Earthport plc

("Earthport", the "Company" or the "Group")

Earthport Launches First Payments Route into North Africa

Earthport rolls out fully automated payment service into Morocco to meet the growing demand for cost efficient, low-value payments in the region

Earthport (AIM: EPO), the cross-border payments service provider, today announced a fully automated payment service into Morocco is now live. The route is the first low value payment service for Earthport in North Africa and will enable the Company to expand its network infrastructure into the region.

With more than three million people in the diaspora, Morocco is one of the top remittance receive countries on the African continent and the second largest remittance country in North Africa with an estimated $6.4 billion worth of payments received in 2010.

The expansion into Morocco comes in response to the growing demand for low-cost payments into the region. The payment route will enable Earthport's clients to quickly launch new payments services into the country and deliver faster, more cost efficient and more transparent remittance transfers through Earthport's local clearing capabilities.

Hank Uberoi, Executive Director of Earthport plc, commented, "Morocco is a key remittance market in North Africa and an important addition to our global network of countries with local clearing capabilities.

"Earthport's specialist role in cross-border payments, means our clients reap the benefits of our country-specific regulatory understanding, local payment data framework and system connectivity standards, enabling them to launch new payment services quickly and cost effectively. In April, we announced the expansion into India, and we look forward to announcing further expansion in due course."

For further information, please contact:

 
Earthport plc 
 Hank Uberoi / Paul Thomas / Chris Cowlard    020 7220 9700 
Panmure Gordon 
 Fred Walsh / Victoria Boxall                 020 7886 2500 
Charles Stanley Securities 
 Mark Taylor / Paul Brotherhood               020 7149 6000 
Newgate Threadneedle 
 Fiona Conroy / Caroline Evans-Jones / Josh 
 Royston                                      020 7653 9850

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, foreign exchange businesses, money transfer organisations, payment aggregators and e-commerce 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 Services Authority under the Payment Service Regulations 2009 for the provision of payment services. To learn more, please visit www.earthport.com and follow us on Twitter @Earthport.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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