LONDON, March 22, 2018 /PRNewswire/ --
Earthport Plc
("Earthport" or the "Company")
Earthport plc (AIM: EPO), the leading cross border payment
services utility, announces that its wholly owned subsidiary,
Earthport North America, Inc., has received written confirmation of
the issue of its New York State
money transmitter licence, backdated to be effective from
15th February 2018. This
landmark event authorises Earthport in the US to engage directly
with New York State resident
individuals and corporations, whether licensed or unlicensed.
The licence covers wire transfers, foreign currency dealing and
/ or exchanging, bill paying and other methods of money
transmission. Earthport can send and receive money on behalf of our
clients, from New York State to
any location globally, giving New York
State based businesses access to Earthport's global ACH
network.
In addition to the above and subject to some State specific
restrictions, the licence authorises Earthport to engage in the
provision of FX services, creating significant commercial
opportunity to attract and service New
York resident businesses.
Marta Ramirez, Earthport US General Counsel,
commented: "Multi-State Licensing is a requirement to fully
service the US market, and the New York
State licence is a key step in fulfilling our strategic
ambitions in the US. We are pleased to have been awarded this
licence and are working with a number of other states to progress
additional applications."
Phil Hickman, Earthport CEO
(interim) said: "The award of our New
York State money transmitter licence marks a significant
achievement for Earthport, with it we are able to meaningfully
expand our offering into the United
States, and develop new commercial opportunities. We will
continue working towards acquiring additional state licences
further enabling us to expand our presence in the United States."
About Earthport
Earthport provides cross-border payment services to banks and
businesses. Through a single relationship with Earthport, clients
can seamlessly manage payments to almost any bank account in the
world, reducing costs and complexity to meet their customers'
evolving expectations of price, speed and transparency.
Earthport offers clients access to global payment capability in
200+ countries and territories, with local ACH options in 65+
countries and an evolving suite of currencies and settlement
options.
Earthport continues to invest in the establishment of in-country
bank partnerships across the world, bringing together its deep
market and regulatory expertise to maintain compliant and
commercially competitive services.
The result - a global payments network accessed via a single
relationship, delivering significant cost and operating
efficiencies for banks and businesses servicing high volumes of
lower value payments.
Headquartered in London with
regional offices in New York,
Dubai, Miami and Singapore, Earthport is a public company,
traded on the London Stock Exchange (AIM: EPO).
http://www.earthport.com
For further information, please contact:
Earthport Plc
+44(0)20-7220-9700
Phil Hickman, Chief Executive
Officer (Interim)
Hank Uberoi, Executive Chairman
Newgate
+44(0)20-7653-9848
Bob Huxford
N+1 Singer (Nomad & Joint Broker)
+44(0)20-7496-3000
Mark Taylor/James White
Shore Capital (Joint Broker)
+44(0)20-7408-4090
Toby Gibbs/Stephane Auton
SOURCE Earthport plc