Banks and other service suppliers are having to provide more and more global coverage with their payment services. But they cannot do it on their own, and are increasingly signing up with specialist providers to provide high quality, consistent services world-wide. The latest example is how Earthport, the global payments specialist, has been appointed by BNP Paribas to provide Automated Clearing House (ACH) cross-border payment services.
BNP Paribas partners with Earthport
By partnering with Earthport, BNP Paribas will gain access to Earthport’s payments network offering lower cost and transparent international payments. Earthport’s bank-grade compliance and regulation expertise also reinforces BNP Paribas’ existing risk and compliance framework. This allows it to provide services into new regions quickly and easily in line with customer requirements.
Damien Godderis, Head of Payment Networks – Payments and Receivables Cash Management, at 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.”
Amanda Mesler, CEO of Earthport, commented on their link up with BNP Paribas: “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. That’s why this collaboration is focussed on evolving our network and setting new industry benchmarks on predictability and transparency for our clients and their customers.”
Earthport’s truly global ACH network
Earthport has a growing payment network of 65+ countries where they deliver payments through local clearing systems. Their team of global experts works closely with regulators, central banks, and their bank partners to ensure their service is compliant, resilient and continuously improving at pace with local developments.
It is used by:
- Banks, e.g. BofA Merrill, etc.
- Service providers such as Hyperwallet, Xoom, The FX Firm, WorldRemit, TransferWise.
Tipalti - global payables operation
Corporates, e.g. GoDaddy, Uber, Twitter, etc. are signing with Tipalti, who offer a global payables operation that eliminates, they claim, mass payments workload by 80% and reduces AP risk by providing:
- Global Payments
- Supplier Onboarding
- Tax Compliance
- Invoice Processing
- Early Payments
- Instant Payment Reconciliation.
CTMfile take: It is the solution that matters, not who does it. But it HAS TO BE a joined up, frictionless solution.
Earthport & TransferWise show payment systems INTER-CONNECTED future
Role of Earthport - the cross-border payment network - as the infrastructure behind global money transfer businesses grows AND TransferWise connects to UK’s FPS
Earthport joins Eurogiro Network to provide its global payments service to members
As a Eurogiro member Earthport will be able to expand its low value clearing services for payments into the accounts of Eurogiro community members
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A hybrid model for real-time retail payment systems could improve the way that payments are settled, according to researchers at Singapore Management University, affiliated with the Swift Institute.