B2B Payments

Earthport Brings FX Specialties To Payroll

Cross-border payments firm Earthport is off to a busy March. Only days ago, the company revealed a partnership with FX4BIZ, a Belgium-based company that brings foreign exchange payments solutions to SMEs.

On Thursday (March 3), Earthport inked another collaboration. This time, however, the company’s cross-border payments expertise will be used in a new way: payroll.

An announcement by the company revealed that it will be working with The FX Firm, a company providing payroll services for companies with overseas employees; their contract has Earthport facilitating the movement of payroll funds.

“We have selected Earthport as it is the leading facilitator of high-volume cross-border payments,” stated The FX Firm Chairman Rob Munro. “Its highly sophisticated payments network enhances our cross-border payroll offering to corporates, while enabling our planned business expansion.”

Earthport facilitates payments across 60 countries, reports said.

According to Earthport European President Daniel Marovitz, “Earthport is uniquely placed to underpin The FX Firm’s cross-border transactions and to ensure it continues to provide secure payments at a competitive rate.”

Earthport has made clear that its growth strategy largely depends on these types of partnerships.

Last year, the company revealed that it would be working with Ripple, launching the FX payments company into yet another area of payments: the blockchain.

“The world is getting smaller, and payments needs to move faster,” Earthport President Jonathan Lear told MPD CEO Karen Webster in an interview soon after the deal with Ripple was announced. “The legacy way of making cross-border payments, well, there is only one way to describe it: It’s a real bloody mess.”

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