Earthport inks 2nd cross-border payments deal, this time with Decillion Group

Earthport has snapped up another cross-border
payments deal, this time with Decillion Group, a system integrator
and software solution provider.

Earthport partnered with Fiserv a few weeks
ago and announced a similar partnership. Now Earthport is expanding
its services into Asia-Pacific through Decillion, which will
introduce Earthport’s payment service for low-value cross-border
payments to its banking customer base in the region.

Decillion Group CEO, Thomas Lee said:

“Decillion has a wide portfolio of systems and
services for international payments. Earthport will be a natural
fit and complementary offering to help with our customers’
requirements for enhanced efficiency, transparency and reach for
low value payments.”

Decillion Group, a subsidiary of NEC, operates
a SWIFT Service Bureau that connects more than 130 financial
institutions and several corporations.

In a statement the companies said there are
different factors behind the increased demand for low value
payments services:

• International migration, that has doubled in the last 25 years
  to more than  200 million people who now generates over 2
  billion individual transactions per year;
• Increasing global trade, with export volumes that grew at a
  14.5% rate in 2010 and forecast to expand by 6.5% in 2011;
• These two factors combined with the explosion in growth of
  e-commerce.

Paul Thomas, executive director, Earthport
said:

“Decillion Group is a strategic partner for
Earthport as it is very well established, both in the Asia-Pacific
region and in the international payments industry.”

He added:

“We believe the partnership will help
institutions in Asia to address the surge in demand for low value
corporate and retail cross-border payments.”