The leading Canadian cooperative financial group will bring the benefit of the Earthport network, the largest open network for global bank payments, to its corporate and retail customers

Earthport has signed an agreement with Caisse centrale Desjardins to provide international payment services, helping Desjardins’ customers make efficient low-value payments in an expanded number of markets globally. Caisse centrale Desjardins selected Earthport for the efficiency its solution brings to payment operations, its ability to drive increased FX revenue and its adherence to the standards and guidelines of the International Payments Framework Association (IPFA). The IPFA promotes the use of ISO 20022, the ISO standard for financial services messaging.

Caisse centrale Desjardins is part of Desjardins Group, the leading cooperative financial group in Canada and the fourth largest cooperative financial group in the world.

With Earthport’s service, Caisse centrale Desjardins will be able to add to the number of markets in which it can deliver cost effective, predictable and efficient global payments. Additionally it allows Caisse centrale Desjardins to increase the functionality of its products.

Simon Jacques, Managing Director of the International Department at Caisse centrale Desjardins said: “This partnership with Earthport is strategic for us and will allow Desjardins to leverage its ability in offering competitive cost payment solutions for our members and clients.”

Hank Uberoi, Chief Executive Officer of Earthport said: “We are happy to be supporting Caisse centrale Desjardins and look forward to helping them grow their international low-value payments business and support their customers’ requirements into the future. The Earthport model is fast becoming recognised as the efficient, transparent and predictable way to make international payments, utilising as it does existing domestic clearing infrastructure on a single global network.”

Earthport’s service is optimised for high volumes of lower value cross-border payments. Its clients include some of the world’s largest banks and financial institutions, e-commerce providers, money transfer operators and payment administrators.