London-based Earthport, a cross-border payments service provider, has signed an agreement with US financial services and investment manager State Street Corporation.
Earthport and its partner Fiserv will provide information management and e-commerce systems for the US financial services industry, and will process cross-border payments through their platform.
Earthport specialises in the provision of white label cross-border payments service. It operates globally and is authorised and regulated by the Financial Conduct Authority under the Payment Service Regulations 2009 for the provision of payment services.
State Street, founded in 1792, is headquartered in Boston, Massachusetts and employs 29,000 people worldwide.
Earthport and Fiserv partnered in June 2012 to offer cross-border payments clearing services for-low value payments, covering both consumer and corporate transactions between $200 and $50,000.
At the time, Earthport’s executive director Paul Thomas said: "Regulation is demanding more transparency for cross-border payments, and our innovative technology platform was designed from the outset to address this requirement for cross-border corporate and consumer payments."
Earthport also signed another partnership with American Express in March last year to expand its foreign exchange international payment service.