Earthport launches payments route into Turkey in response to the growing demand for low-cost, low value cross-border payments in the region
London, UK – 11th December, 2012 – Earthport, the cross-border payments service provider, today announces that it has opened a low value payments service into Turkey as part of its global expansion strategy. The new payment route comes in response to the growing client demand for cost-efficient, low value payments into the market and is part of Earthport’s continuing investment in expanding its service.
Turkey is one of the fastest growing trade markets in Europe. The country’s key role in European trade has seen it rank 7th in Europe’s top import markets and 5th in export destinations, while globally the European Union remains the top market for Turkey’s exports, followed by Russia and the USA.
The launch of the service for Turkey will enable Earthport’s clients to reach an estimated 42 million bank accounts. Leveraging domestic clearing, Earthport’s cross-border payments service allows clients to offer competitive corporate and remittance payments products.
“Our services are underpinned by a global infrastructure which is reliable, resilient, secure and capable of delivering the best possible payments solution to our clients. One of the key advantages for our clients is that, once connected to our payments platform, they can easily launch payment services into new regions without incurring significant costs to their business,” said Paul Thomas, Executive Director at Earthport.
“We are committed to expanding our global reach and payment capabilities. The service is a key enabler for our growing client base to improve the transparency of cross-border payments, while lowering costs and generating new revenue streams from servicing cross-border corporate and remittance payments”.
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 Services Regulations 2009 for the provision of payment services. To learn more, please visit www.earthport.com and follow us on Twitter @Earthport.
 Source: World Bank
U.K. Media Contact:
Sue Grant/Amy Berman
Tel: 020 7437 0227