Cross-border payments service provider Earthport has entered into an agreement with Viamericas, a provider of remittance payments for Latin America, to support the latter’s push for strategic growth outside of the Americas.
Under the agreement, Viamericas will use Earthport’s global cross-border payment capabilities to service new routes outside Latin America and the Caribbean. This will enable Viamericas to expand its customer base internationally and provide more efficient, predictable and cost-effective direct-to-bank remittance transfers.
With remittance flows to the developing world expected to grow by 7.9% this year and reach a 10.7% increase by 2015, Viamericas sought a partner that could enable it to capture a bigger share of this growing market. The new service will offer Viamericas’ customers low-cost remittance transfers and more transparent payments, including advance disclosure of all fees involved in the transfer.
“The collaboration with Earthport will enable us to offer more competitive payment services to our customers and venture into new markets,” said Paul Dwyer, co-founder and chief executive officer (CEO) of Viamericas. “Through adopting the Earthport service we can now deliver more transparent payments and enhanced customer experience, while driving cost efficiency and innovation to capture new segments of the remittance market.”