Earthport, a global payments company, announced Thursday it has been named by BNP Paribas to provide Automated Clearing House (ACH) cross-border payment services.
In a press release, Earthport said that BNP Paribas Fortis, a subsidiary of BNP Paribas and Belgium’s largest bank, with annual revenues of €43 billion, will be the first to deploy the services. With the partnership, BNP Paribas will gain access to Earthport’s payments network, offering lower costs and transparent international payments.
“We are delighted to have reached the first stage of live deployment with BNP Paribas. This is just the start of our collaboration, and we look forward to rolling out our services across the group. Consumers and businesses expect the same ease and speed for their international payments as they get with domestic ones,” said Amanda Mesler, Earthport's CEO. “That’s why this collaboration is focused on evolving our network and setting new industry benchmarks on predictability and transparency for our clients and their customers.”
The company said its bank-grade compliance and regulation expertise also reinforces BNP Paribas’ existing risk and compliance framework, which enables BNP to provide services to new regions quickly and easily, in line with customer requirements.
Damien Godderis, head of payment networks for BNP Paribas, said, “We are committed to providing the best service and options to our customers. Earthport supports us in doing this through the global reach of its payment network, which means our customers have access to established as well as emerging markets which are increasingly becoming more important.”