Earthport's cross-border pay reach expands into India

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.

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The Delhi Stock Exchange Ltd. building is seen through a fence in New Delhi, India, on Thursday, Nov. 10, 2016. Stocks in Asia rebounded from their steepest slide since Brexit, industrial metals surged and regional bonds tumbled after Donald Trump's election victory and spending pledges spurred gains in U.S. shares. Photographer: Anindito Mukherjee/Bloomberg
Anindito Mukherjee/Bloomberg

“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.

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Cross border payments Distributed ledger technology Online payments India
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