Earthport has signed a Memorandum of Understanding with SECB Swiss Euro Clearing Bank to provide foreign payments services.
The U.K.-based network for cross-border transactions will give the Frankfurt, Germany-based SECB access to its low value cross-border payment capabilities as an alternative to its current foreign transaction mechanisms as SECB expands its foreign transaction offerings. Earthport enables customers to make payments to more than 60 countries globally through a single contract, technical integration and service relationship.
"We are committed to providing our clients with a global payments service in Euro that is secure, efficient and far reaching," Roland Böff, CEO of SECB, said in the release. It chose Earthport because of its global network and ease of integration with its current mechanisms, he added.
The deal makes SECB Earthport's first client in Germany as it works to grow its global presence.