OREANDA-NEWS. STANDARD CHARTERED CHOOSES EARTHPORT FOR GLOBAL PAYMENTS.

The innovative cross-border payments service gives Standard Chartered competitive advantage in high growth emerging markets

Further to the announcement on 7 October 2014, Earthport (AIM: EPO) is pleased to provide additional details regarding the contract with Standard Chartered. No financial terms have been disclosed.

Through the agreement with Standard Chartered, Earthport will provide its efficient and secure international payments service to benefit the bank's corporate and financial institution customers in the fast growing international trade markets of Africa and Asia. Through the integrated service, Standard Chartered's customers will be able to choose to route international payments to their beneficiaries through local clearing, giving them control, choice and flexibility.

By adopting Earthport's service, Standard Chartered has rapidly reduced the time to deliver a solution to their customers' evolving international trade requirements. Banks connecting in to the Earthport service can route low value payments through the most efficient clearing schemes in 65 countries.

Standard Chartered was recently voted the best global transaction bank in The Banker's 'Transaction Banking awards.' This award was based on its work in emerging markets, particularly Asia.

Karin Flinspach, Head, Cash Products, Transaction Banking at Standard Chartered commented: "We are seeing strong demand for more efficient cross-border payment and settlement solutions as our Asia, Africa and Middle East clients grow and expand their operations internationally. This alliance with Earthport increases the Bank's coverage to better support our clients payments needs across our footprint. Our corporate, institutional and retail clients are looking for convenient ways to make cross border and cross currency payments in a predictable and transparent manner; International ACH provides them with just that."

Hank Uberoi, CEO of Earthport, commented: "We are delighted to be collaborating with Standard Chartered to bring the benefits of our innovative payments model to enhance their product offerings to corporate customers. This agreement, with a bank serving customers in some of the world's fastest growing markets, is welcome proof that there is a better way to service the international payments of today and tomorrow."