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.