Cross-border payment services firm Earthport Plc partnered with Nigeria-based Access Bank Plc to offer cross-border payment services into the country.

The new partnership constitutes part of Earthport's longer-term strategy, which provides for expansion into Africa, the company said Aug. 7.

Earthport also noted that the new payment channel was set up to satisfy the need to provide more effective servicing of remittances and low-value payments sourced from outside Nigeria, the value of which is now estimated at $19 billion per year, representing 4.7% of the country's GDP.