LONDON (ShareCast) - A new deal with Asia focused travel payments firm eClearing could produce over $1m of transactional revenue for Earthport in its first year, the electronic payments outfit said today.

AIM listed Earthport’s Universal Payments Network (UPN) will allow eClearing to deliver a white-label 'bank payments' service to major players in the travel industry.

It already claims strong customer relationships with Kuoni, AsiaRooms.com, AsianTrails.com, Agoda.com and AsiaOnline.com.

Last year, e-Clearing processed more than $0.5bn of travel industry transactions at an average transaction value of $200.

Earthport also expects to benefit from a revenue stream through foreign exchange.

• News Channel