Earthport PLC New York State money transmitter licence received (5242I)
March 22 2018 - 3:01AM
UK Regulatory
TIDMEPO
RNS Number : 5242I
Earthport PLC
22 March 2018
22 March 2018
Earthport Plc
("Earthport" or the "Company")
Earthport North America, Inc. receives New York State money
transmitter licence
Earthport plc (AIM: EPO), the leading cross border payment
services utility, announces that its wholly owned subsidiary,
Earthport North America, Inc., has received written confirmation of
the issue of its New York State money transmitter licence,
backdated to be effective from 15(th) February 2018. This landmark
event authorises Earthport in the US to engage directly with New
York State resident individuals and corporations, whether licensed
or unlicensed.
The licence covers wire transfers, foreign currency dealing and
/ or exchanging, bill paying and other methods of money
transmission. Earthport can send and receive money on behalf of our
clients, from New York State to any location globally, giving New
York State based businesses access to Earthport's global ACH
network.
In addition to the above and subject to some State specific
restrictions, the licence authorises Earthport to engage in the
provision of FX services, creating significant commercial
opportunity to attract and service New York resident
businesses.
Marta Ramirez, Earthport US General Counsel, commented:
"Multi-State Licensing is a requirement to fully service the US
market, and the New York State licence is a key step in fulfilling
our strategic ambitions in the US. We are pleased to have been
awarded this licence and are working with a number of other states
to progress additional applications."
Phil Hickman, Earthport CEO (interim) said: "The award of our
New York State money transmitter licence marks a significant
achievement for Earthport, with it we are able to meaningfully
expand our offering into the United States, and develop new
commercial opportunities. We will continue working towards
acquiring additional state licences further enabling us to expand
our presence in the United States".
For further information, please contact:
Earthport Plc 020 7220 9700
Phil Hickman, Chief Executive Officer (Interim)
Hank Uberoi, Executive Chairman
Newgate 020 7653 9848
Bob Huxford/James Ash
N+1 Singer (Nomad & Joint Broker) 020 7496 3000
Mark Taylor/James White
Shore Capital (Joint Broker) 020 7408 4090
Toby Gibbs/Stephane Auton
About Earthport
Earthport provides cross-border payment services to banks and
businesses. Through a single relationship with Earthport, clients
can seamlessly manage payments to almost any bank account in the
world, reducing costs and complexity to meet their customers'
evolving expectations of price, speed and transparency.
Earthport offers clients access to global payment capability in
200+ countries and territories, with local ACH options in 65+
countries and an evolving suite of currencies and settlement
options.
Earthport continues to invest in the establishment of in-country
bank partnerships across the world, bringing together its deep
market and regulatory expertise in order to maintain compliant and
commercially competitive services.
The result - a global payments network accessed via a single
relationship, delivering significant cost and operating
efficiencies for banks and businesses servicing high volumes of
lower value payments.
Headquartered in London with regional offices in New York,
Dubai, Miami and Singapore, Earthport is a public company, traded
on the London Stock Exchange (AIM: EPO).
Please visit www.earthport.com for more information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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