Fiserv announced this week that it has partnered with cross-border payments service provider Earthport to provide a solution for international payments processed through the automated clearing house (ACH). The partnership will enable Fiserv clients to process low value, cross-border payments through PEP+, an online, real-time solution for originating and receiving ACH payments.
According to Fiserv, Earthport uses a payments framework specifically designed for high volumes of low value cross-border payments that provide access to local clearing schemes in more than 50 countries. "PEP+ is the leading domestic ACH processor and now, with the integration with Earthport, we will expand that reach globally,” said Rahul Gupta, president, Digital Payments Solutions Group, Fiserv, in a statement. "The commitment that we have always shown to payments within the U.S. will now expand to cross-border ACH payments – a capability our customers have requested."
According to Fiserv, more than 10 billion, or roughly 50 percent, of all ACH transactions in the U.S were processed through its technology in 2011.
Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio