Earthport is a UK-based financial services company that specializes in cross-border payments. Founded in 1997, the company provides a range of payment services to banks, money transfer operators, and other financial institutions.
In 2019, Earthport was acquired by Visa, a global payments technology company. The acquisition was aimed at enhancing Visa’s capabilities in the fast-growing market for cross-border payments. The acquisition also enabled Earthport to leverage Visa’s global network and resources to expand its reach and capabilities.
Earthport's Products
Earthport’s payment platform is designed to simplify cross-border payments by providing a single connection to multiple payment networks around the world. This enables banks and other financial institutions to send and receive payments quickly and securely, while minimizing the complexity and cost of managing multiple payment relationships.
Some of Earthport’s key products and services include:
Payment Network Access: Earthport provides access to a global network of payment channels, including local clearing systems, banks, and payment processors.
Payment Processing: Earthport offers payment processing services for both inbound and outbound payments, enabling financial institutions to send and receive payments in multiple currencies and across multiple channels.
Compliance and Regulatory Support: Earthport provides compliance and regulatory support to help financial institutions meet their obligations under international money transfer regulations.
FX Conversion: Earthport offers FX conversion services that allow financial institutions to convert currencies at competitive rates.
Other Companies Like Earthport
Earthport is not the only company that specializes in cross-border payments. There are several other companies in the market that offer similar products and services. Some of the key players in the market include:
TransferWise: TransferWise is a UK-based fintech company that specializes in cross-border money transfers. The company offers a fast, low-cost, and transparent way to send money internationally.
WorldFirst: WorldFirst is a UK-based company that provides cross-border payments and currency exchange services to businesses and individuals. The company offers competitive rates and a range of payment options to suit different needs.
Payoneer: Payoneer is a US-based financial services company that provides cross-border payments, ecommerce payments, and working capital solutions to businesses around the world. The company has a global network of payment partners and offers a range of payment options to suit different needs.
OFX: OFX is an Australian-based company that provides cross-border payments and foreign exchange services to individuals and businesses. The company offers competitive rates, fast transfers, and a range of payment options to suit different needs.
Earthport is a leading player in the cross-border payments market, offering a range of payment services to banks, money transfer operators, and other financial institutions. The company’s acquisition by Visa has helped it to leverage Visa’s global network and resources to expand its reach and capabilities.
However, Earthport faces stiff competition from other companies in the market that offer similar products and services. TransferWise, WorldFirst, Payoneer, and OFX are just a few of the key players in the market that are competing for a share of the growing cross-border payments market.
