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Kyodai Remittance Selects Earthport to Expand Remittance Payments Services to a Truly Global Reach

Leading remittances provider in Japan brings benefit of Earthport's cross-border payment efficiencies to consumer and corporate customers

London, UK, 19 March 2014 - Today Earthport, the cross-border payments service provider, announced the leading Japanese remittances provider Kyodai Remittance, has gone live with its service. Through their strategic partner in Japan, Global Winning Technologies Corporation (GWT), Earthport will help Kyodai Remittance expand its consumer offering to Europe, the US and rest of the world. In addition, Kyodai Remittance will utilise Earthport's market-leading international payments services to enter the business to business (B2B) market.

The agreement will enable Kyodai Remittance to improve efficiency and predictability of its payments, grow its footprint in the market and deliver an enhanced customer experience. Earthport's proven white-label payments service already provides these benefits to a wide range of customers globally.

"Kyodai Remittance's mission is to provide a fast, convenient and seamless service to our customer base across Japan. The agreement with Earthport forms part of our strategy for growth and will allow us to enter new markets such as that for B2B payments," said Yuichiro Kimoto, President and CEO at Kyodai Remittance. "The payments market offers us many new and exciting opportunities. Using Earthport's cross-border payment service we are better placed to explore them."

Paul Thomas, Executive Director at Earthport said: "We're delighted to be part of these international expansion plans and look forward to working together on delivering cross-border payment services that benefit Kyodai Remittance's customers. Our aim is to help Kyodai Remittance increase their market share for remittance payments to bank accounts overseas."

Kyodai Remittance specialises in payments to Latin America and South East Asia and is keen to offer more corridors to remitters in Japan. According to The World Bank, the global market for remittances continues to grow and by 2016 is estimated to reach over $700 billion with a projected average annual growth rate between 2013 and 2016 of over 8 percent[1]

Thomas added: "Financial institutions are increasingly collaborating in the provision of innovative technologies to improve the customer experience of international payments. Kyodai Remittance is the latest financial institution choosing Earthport to provide a competitive service offering."

Recently Earthport announced the expansion of its reach in Latin America with added routes to Mexico and Colombia, equipping clients to offer efficient payments into these markets with greater transparency to benefit customers.

[1] The World Bank: 'Migration and Remittance Flows: Recent Trends and Outlook, 2013-2016'

About Kyodai Remittance
Kyodai Remittance is the brand name of Unidos. Co, Ltd. Unidos was established in 2000 to support home money transfer for the Peruvian community in Japan. Under the Funds Settlement Act in 2010, Unidos was registered as a money transfer company (Registration: Money Transfer Agent Kanto Regional Financial Bureau 00004) and started the service "KYODAI REMITTANCE" for all nationalities in Japan to all destinations in the world.

Since then, Unidos has provided a fast and safe remittance service to customers built around confidence, respect, know-how and experience. Unidos' greatly diversified international staff communicate directly to each community in its own language and demonstrate a key understanding of differing cultures.

The company's headquarters are in Shinagawa, Tokyo, Japan. A face-to-face remittance service is provided in 11 locations in Japan so far.

For more information, please visit www.kyodairemittance.com

About Earthport
Earthport plc, a regulated global financial services organisation, specialises in the provision of a white label cross-border payments service.

Through its innovative payments framework, specifically designed for high volumes of low value cross-border payments, Earthport provides a cost-effective and transparent service for secure international payments. Earthport's clients include banks, money transfer organisations, payment aggregators, e-commerce and foreign exchange businesses. Through Earthport's well established payments infrastructure, clients can clear and settle payments directly to banked beneficiaries in 60 countries.

The company is headquartered in London and is listed on the Alternative Investment Market (AIM) on the London Stock Exchange. It operates globally with additional regional offices in Dubai and New York. Earthport plc is authorised and regulated by the Financial Conduct Authority under the Payment Service Regulations 2009 for the provision of payment services. To learn more, please visit www.earthport.com and follow us via RSS or on social channels, Twitter @Earthport, LinkedIn, Youtube and Slideshare.

###

Media Contacts:
Claudia Urquiola or Terri Bloore, Finn Partners
T: +44 207 148 4403 / +44 207 148 4401
E: [email protected] / [email protected]

Source: RealWire

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