Earthport opens low-value payment route to China
Uberoi: able to reach 80% of Chinese accounts
Cross-border low-value payments service provider Earthport, has opened a new payment route into China to support trade payments into the region.
For payments service providers connecting through Earthport this opens up opportunities for them to offer solutions to corporate customers making payments into the world’s largest exporting country.
“We will be able to make efficient payments into 80% of bank accounts in China, with corporate customers benefiting from known up-front fees, predictable settlement dates, identified payers and no deductions from the principal amount,” said Hank Uberoi, chief executive of Earthport. “This is an important milestone in the continuing expansion of Earthport’s global footprint. With very few banks connected to China’s automated clearing house , this new route will be of great benefit to our clients and their customers for making low value payments into the country.
Earthport’s clients, which include several major banks, currently have access to local clearing capabilities in 63 countries across six continents, to which they can send low value payments.
