Equals Group PLC B2B Payments agreement with HomeSend (7421E)

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: [phone] 
  Richard Cooper, CFO                                       9308 
                                               www.equalsplc.com 
 Cenkos Securities plc (Nominated Advisor 
  / Joint Broker) 
 Max Hartley / Callum Davidson              Tel: [phone] 
  Nick Searle (Sales)                                       8900 
 Canaccord Genuity (Joint Broker) 
 Bobbie Hilliam / David Tyrell              Tel: [phone] 
  Alex Aylen (Sales)                                        8150 
 
 
 Buchanan (Financial Communications) 
 Henry Harrison-Topham / Steph Watson   Tel: [phone] 
  / Toto Berger                                         5000 
  [e-mail]                 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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November 10, 2020 02:00 ET (07:00 GMT)