Earthport Expands Payments Access for BofAML Clients
December 12 2016 - 5:44AM
Dow Jones News
By Ian Walker
LONDON--Earthport PLC (EPO.LN), a payment network for
cross-border payments, Monday announced an expanded service with
Bank of America Merrill Lynch that will allow the bank's clients to
access cross currency payments in more than 60 countries, and
nearly 25 currencies.
Shore Capital described the deal as the most significant
development in the company's history and said it expects this to
"materially" change the company's financial performance in the
future.
"This is a full-scale endorsement by one of the world's largest
financial institutions and fundamentally improves the company's
market position and future earnings potential," the broker
said.
Shore Capital acts as joint broker to Earthport.
Earthport shares at 0955 GMT were up 0.25 pence, or 1.27%, at 20
pence. However, they have fallen 40% over the past 12 months.
Earthport first announced the strategic relationship with Bank
of America Merrill Lynch in 2013.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
December 12, 2016 05:29 ET (10:29 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Earthport (LSE:EPO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Earthport (LSE:EPO)
Historical Stock Chart
From Apr 2023 to Apr 2024