Earthport (AIM: EPO.L), the leading payment network for cross-border transactions, is pleased to announce that it has signed a Memorandum of Understanding (MoU) with SECB Swiss Euro Clearing Bank (SECB), in order to reach an agreement to provide foreign payment services.

SECB Swiss Euro Clearing Bank is based in Frankfurt, Germany, and is a significant bank in the region. It is Earthport’s goal to establish itself as a local service provider of cross-border payments to banks in various countries and SECB would be Earthport’s first client in Germany.

Earthport provides clients with access to fast, secure and cost effective payments to over 60 countries globally, through a single contract, a single technical integration and a single service relationship. SECB will have access to Earthport’s full range of low value cross-border payment capabilities to support it in delivering an additional alternative to its current foreign transaction mechanisms.

Marco Venturella, VP, Earthport said: “SECB is a significant clearing bank in Germany and we are delighted they have chosen Earthport as their service provider for foreign payments. To name SECB as our first client in Germany demonstrates both our commitment to evolving our German presence and that Earthport is able to support firms in the region in boosting the efficiency, security and costeffectiveness of their cross-border payments.”

Roland Böff, CEO, SECB Swiss Euro Clearing Bank said: “We are committed to providing our clients with a global payments service in Euro that is secure, efficient and far reaching. With Earthport’s global network across over 60 countries and ease of integration with our current mechanisms, it was an obvious choice for us as we look to expand our service offering for foreign transactions.”