EPO Earthport Plc

By Ian Walker

LONDON--Earthport PLC (EPO.LN), a payment network for cross-border payments, Monday announced an expanded service with Bank of America Merrill Lynch that will allow the bank's clients to access cross currency payments in more than 60 countries, and nearly 25 currencies.

Shore Capital described the deal as the most significant development in the company's history and said it expects this to "materially" change the company's financial performance in the future.

"This is a full-scale endorsement by one of the world's largest financial institutions and fundamentally improves the company's market position and future earnings potential," the broker said.

Shore Capital acts as joint broker to Earthport.

Earthport shares at 0955 GMT were up 0.25 pence, or 1.27%, at 20 pence. However, they have fallen 40% over the past 12 months.

Earthport first announced the strategic relationship with Bank of America Merrill Lynch in 2013.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

December 12, 2016 05:29 ET (10:29 GMT)

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