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Earthport expands international payment relationship with Japan Post Bank
Earthport has expanded its relationship with Japan Post Bank and will work on delivering outbound cross-border payment services across North America and Europe, the company said on Tuesday.
Japan Post Bank is seeking to become "the most accessible and trustworthy bank in Japan" through, among other things, offering clients greater capabilities with regard to cross-border payments which will be aided by the cooperation with payment services network Earthport.
Phil Hickman, chief executive of Earthport, said: "We are thrilled to extend our services with Japan Post Bank, which has been a client of Earthport's for two years. The extension of our service offering to the bank is testimony to the excellent service Earthport provides, and the capabilities we offer our clients and their end-users."
Earthport has a payment network of over 67 countries and enables the secure execution of transactions for some of the world's leading financial institutions, according to a statement.
Masahiro Murashima, senior managing executive at Japan Post Bank, said: "Since January 2018 we began handling international remittances on the web and expanding the remittance destination mediated by Earthport to more countries and it is now possible to make full remittance to the payee account without deducting the intermediate fee. We are very pleased that strengthening the relationship with the Earthport team will lead to an improvement in convenience for our customers and an expected increase in the volume of transactions."
Japan Post Bank, which holds approximately 100 million customer accounts, launched the expanded service in full back in January.
As of 0956 GMT, Earthport PLC's shares were down 0.65% at 12.05p.