Earthport has signed an agreement with India’s Axis Bank that will enable the bank's customers to make outbound cross-border payments using Earthport’s global payments network.
The agreement makes Axis the first Indian bank to partner with Earthport and connect with its global network, which spans more than 60 countries.
Earthport specializes in technology that enables banks to send payments to almost any bank account in the world. In the past it has partnered with Ripple, a distributed ledger technology company that aims to remove friction from cross-border payments by eliminating third parties from transaction processing.
“Through this strategic partnership with Earthport, we shall offer our customers faster remittances with complete transparency on the final amount and time taken to credit beneficiaries overseas with real-time end-to-end tracking,” Sidharth Rath, group executive of Axis’ corporate banking unit, said in a Nov. 21 news release.