For a cross-border payments business, enlisting "the world’s local bank" looks to be a match made in heaven. Shares in Earthport (EPO) climbed 5 per cent after it signed a multi-year agreement with HSBC that stretches from Central and Eastern Europe to Asia Pacific.
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It’s the latest in a string of deals for Earthport. In the past six months, it has signed contracts with Bank of America Merrill Lynch, PNC Bank and online money-transfer business WorldRemit. And they seem to be paying off - its revenues in January were a quarter higher than in December, building on Earthport’s sales and gross profit growth of over 80 per cent last year.
