Equals Group PLC B2B Payments agreement with HomeSend (7421E)
10 November 2020 - 6:00PM
UK Regulatory
TIDMEQLS
RNS Number : 7421E
Equals Group PLC
10 November 2020
10 November 2020
Equals Group plc
('Equals' or the 'Group')
B2B Payments agreement with HomeSend
Equals (AIM:EQLS) , the technology-led international payments
group providing SMEs with efficient, integrated, payment settlement
solutions across spot and forward FX, card payments and Faster
Payments , is pleased to announce the commencement of a new B2B
relationship with HomeSend, a global leader in cross-border
payments. Under this agreement, the Group will bolster HomeSend
activities in the UK, further enabling customers to send money to
UK bank accounts in real time and with upfront transparency of all
associated fees.
HomeSend is the first large-scale B2B partner to utilise the
Group's 'Directly Connected Direct Settling' participation status
with the Faster Payments service to make UK payments at scale. The
agreement highlights Equals' B2B2B/C capabilities in facilitating
other financial institutions needs via its robust, scalable and
efficient platform. Combining bank-grade UK clearance capabilities
with the FX services and expertise of the Group in the same
platform provides Equals a clear competitive edge in the
international payments space.
Ian Strafford-Taylor, CEO of Equals, said: "During the past two
years, we have been investing in building products and connectivity
to payments networks in order to support our B2B offering. We are
now seeing the tangible results of that investment both directly to
our own customers and by using this infrastructure to address the
needs of other financial services businesses. This agreement with
HomeSend is the largest manifestation of this to date and will
provide significant incremental scale through our payment systems.
We can now offer major corporates, banks and financial
institutions, continual access to real-time payments via APIs and
bespoke portals, all with the security of having money flowing
through our settlement accounts with the Bank of England. Coupled
with our well-established credentials in the Foreign Exchange
market, this new service provides a powerful and exciting new B2B
revenue stream for the Group."
Stephen Doyle, CEO of HomeSend, commented: "HomeSend is
committed to playing a key role in making cross-border payments
simple, secure, and certain. We're delighted to partner with Equals
given that establishing direct connections to real-time clearing
systems as they become more prevalent is core to our strategy."
- Ends -
This announcement contains inside information.
For more information, please contact:
Equals Group plc
Ian Strafford-Taylor, CEO Tel: +44 (0) 20 7778
Richard Cooper, CFO 9308
www.equalsplc.com
Cenkos Securities plc (Nominated Advisor
/ Joint Broker)
Max Hartley / Callum Davidson Tel: +44 (0) 20 7397
Nick Searle (Sales) 8900
Canaccord Genuity (Joint Broker)
Bobbie Hilliam / David Tyrell Tel: +44 (0) 20 7523
Alex Aylen (Sales) 8150
Buchanan (Financial Communications)
Henry Harrison-Topham / Steph Watson Tel: +44 (0) 20 7466
/ Toto Berger 5000
equals@buchanan.uk.com www.buchanan.uk.com
Notes to Editors:
Equals Group is a technology-led international payments group
augmented by highly personalised service for the payment needs of
SMEs whether these be FX, card payments or via Faster Payments.
Founded in 2007, the Group listed on AIM in 2014 and currently
employs around 250 staff across sites in London and Chester. For
more information, please visit www.equalsplc.com .
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