With Planet Payment, there is no need for a company to open a foreign bank account outside of its home country-merchants can accept payment and have funds settled in currencies other than the U.S. dollar. "The single biggest impediment to international e-commerce is the ability to get paid. We set out to resolve that problem." Beck says. "Planet Payment solutions comprise the two critical elements of any online real-time payment transaction: the credit card merchant account and the payment gateway software."

While credit cards have become the dominant currency for making purchases on the Internet, many businesses are unable to obtain credit card merchant accounts due to a variety of factors, including the failure of merchant credit card financial institutions to provide the technological infrastructure necessary to process credit cards over the Internet. Planet Payment enables Internet merchants to accept Visa, MasterCard, and American Express.

Setting set up is simple: Global payment service costs $595 for a one-time set-up fee with a 3.95 percent fee per transaction and an additional 50 cents per transaction fee.