Global Report Finds Widespread Frustration and Concern Over Current Practices in Cross Border Payment Market. Research commissioned by Earthport highlights the greatest opportunity for improvement exists in the mid-market, particularly for payments below $10,000

London, UK - 20 September 2011 – Earthport, the global payments provider, today released the results of a new report that provides a detailed understanding of the ideal cross border payment solution from the perspective of both payment professionals and payment initiators. The global survey, which is based upon responses from professionals right across the financial ecosystem, was conducted by payments strategy consulting firm, Glenbrook Partners.

According to the report, there is widespread concern and frustration over current practices and prices within the cross-border market specifically amongst payments in the ‘sub-$10,000 level, especially in the $500 to $2,000’ range.

Research also found that unlike other sectors of the payments industry - often referred to as a ‘commodity business’ with standardised features, price-based competition and low margins - this is not the case for cross-border payments. Instead, most providers enjoy attractive profit margins and don’t compete primarily on price.

Other key findings include: