Cross-border payments provider Earthport has added to new payment routes to its service offering, taking its country-coverage above 50.

The company will now allow those using its solutions to settle payments in Colombia and Mexico, as it seeks to capitalise on the strong trade growth in these countries.

Earthport’s CEO Paul Thomas tells GTR that the move allows banks that service corporate payments (such as supplier payments) to provide the solution themselves, without relying on correspondent banking, as was the industry trend for some time.

Those already connected with the Earthport solution can now access payments in Colombia and Mexico immediately, with the company providing guidance over regulatory issues in each country.

It sees the continuation of the recent Colombia love-in sweeping the trade world. Already in 2014, the Canadian and French ECAs EDC and Coface have both opened premises in the northwest South American state, which is growing at a rate of 4% annually and is generally spoken of as one of the most promising emerging markets in the world.

Thomas says that the company chose these two nations on the back of demand for clients to do local clearing there, saying: “Their corporate customers may have suppliers in these countries, or employees or contractors or pensioners based there.”

The clients can use local clearing in place of Swift payments. Earthport’s next move will also be determined be client demand, with Thomas expecting new routes in Africa, Latin America and Asia to be launched in the near future.