Earthport has announced a multi-year global contract with HSBC with a significant minimum revenue commitment.
Under the terms of the agreement, HSBC will integrate with Earthport to expand the coverage of its Global Disbursements product across countries in Central and Eastern Europe, and the Asia Pacific region.
Once live, Earthport will facilitate low value cross-border payments across countries which are not currently part of HSBC’s Global Disbursements network to its corporate and financial services clients.
Hank Uberoi, Chief Executive Officer of Earthport plc, commented: “I am delighted that HSBC, one of the largest banking and financial services organisations in the world with a reputation for global service, has chosen Earthport to enhance its cross-border payments product. This is another significant contract with minimum revenue commitments that Earthport has signed with a major Tier 1 bank within a few months. In addition to increasing future visibility, this contract demonstrates Earthport’s increasing traction and unique strategic positioning within the payments ecosystem.
“Our service is underpinned by a large and growing network facilitating domestic payments in 60 countries globally and we look forward to adding further geographies, enabling additional payment routes to our clients and their customers.”
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