E-commerce provider to offer merchant services spanning two dozen currencies.

Targeting e-merchants who peddle their goods across international borders, Planet Payment is preparing to launch its multi-currency offering in the coming weeks.

Essentially, the company will provide businesses with tough-to-get, foreign merchant accounts. In addition, Planet Payment will bundle the accounts with a payment gateway, based on Authorize.Net technology, according to executives from both companies.

The international e-commerce provider is a spin-off from e-commerce legal firm Beck & Arad LLP, a New York City-based outfit that specializes in international commerce law. Beck & Arad exec Thomas DeLuca has already switched hats to take the helm of Planet Payment.

"Right now, it's very tough to take credit cards outside the U.S.," says DeLuca. Part of the problem is the swath of foreign banks that have not warmed to the concept of e-commerce. Also plaguing international e-commerce are the myriad different import/export rules, tax laws, and shipping regulations that differ from country to country.

By providing the merchant account bundled with a payment gateway, Planet Payment is hoping to solve the first part of the equation. And, of course, Beck & Arad is always available to solve the latter headache.

Authorize.Net also brings some thunder to the table. The e-commerce gateway provider is pumping up its relationship with Planet Payment--its first significant foray into international e-commerce. The payment gateway company, which was acquired several months ago by Go2Net, already boasts some 46,000 merchant customers and 650 bank partners.

Authorize.Net senior VP John Bodine says the merchant demand to tap multiple currencies and cross geographic borders has been tremendous. The companies are so far tapping six foreign banks to extend its solutions into numerous countries.

Essentially, Planet Payment becomes an acquiring organization for these banks, signing on merchants and handing out merchant accounts for the financial institutions.

According to Bodine, Planet Payment initially will be able to convert between over 140 currencies, but will be able to settle--or pay out--into about two dozen currencies. He expects the service to be fully available in late November.