1/16/2008

Planet Payment Announces Agreement with The Bank of East Asia

Planet Payment [LSE:AIM: PPTR and PPT], a leading international multi-currency payment and data processor, today announced an agreement with The Bank of East Asia (“BEA”) to introduce Planet Payment’s Pay in Your Currency™ service in Hong Kong. Planet Payment anticipates launching the service in 2008.

The Pay in Your Currency service provides customers using Visa® or MasterCard® payment cards denominated in most major currencies with a real-time choice of currencies in which to complete their purchases. Tourists and business travellers will enjoy the comfort of knowing how much they are paying in their home currency, and they no longer need to wait until they return home to discover what their transactions actually cost in their home currency. The service provides merchants with a powerful marketing tool that can be used to attract more customers and drive sales by providing superior customer service and a more personalized shopping experience.

Incorporated in Hong Kong in 1918, BEA provides comprehensive retail and commercial banking services to customers in Hong Kong, Greater China, and overseas. BEA is the largest independent local bank in Hong Kong and one of the first foreign banks to be authorized to operate in Mainland China.

Commenting on the agreement, Philip Beck, Chairman and Chief Executive of Planet Payment, said:

“Planet Payment is delighted to be offering our Pay in Your Currency Service with BEA in Hong Kong, We are very excited about this opportunity and look forward to working with BEA over the months and years ahead.”

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Enquiries to:

Planet Payment, Inc.
Thomas J. DeLuca, SVP Corporate Development Tel: +852 9303 0658
Joel Mayer, Director, Corporate Development Tel: +1 516 670 3200
Redleaf Communications Ltd (for Planet Payment)
Emma Kane / Samantha Robbins / Richard Girling / Henry Columbine
Tel: +44 20 7822 0200
planet@redleafpr.com

Canaccord Adams Ltd (for Planet Payment)
Mark Williams/Clayton Bush Tel: +44 20 7050 6500


About Planet Payment, Inc:

 Further information on Planet Payment® can be found at: www.planetpayment.com.

 Planet Payment’s Common shares trade on AIM under the symbols PPT for unrestricted Common shares and PPTR for Reg S Common shares.

 Planet Payment enables processors, acquiring banks and their merchants to accept, process and reconcile credit card transactions in multiple currencies, allowing cardholders to view prices and settle transactions in their native currency. The “Pay in Your Currency” service is a component of Planet Payment’s suite of multi-currency processing solutions, which include a multi-currency pricing e-commerce service and a Dynamic Currency Conversion service. Planet Payment also recently launched BuyVoice™, a mobile payment and commerce solution, which allows merchants to accept payments and sell product to customers using any mobile or landline phone.

 Planet Payment is headquartered in New York and has offices in Atlanta, Beijing, Bermuda, London, Hong Kong, Shanghai and Singapore.

Forward-Looking Statements. Information contained in this announcement may include ‘forward-looking statements’. All statements other than statements of historical facts included herein, including, without limitation, those regarding Planet Payment’s financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Planet Payment’s business) are forward-looking statements. Such forward-looking statements are based on a number of assumptions regarding Planet Payment’s present and future business strategies and the environment in which Planet Payment expects to operate in future, which assumptions may or may not be fulfilled in practice. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors, including the risk that implementation, adoption and offering of the service by processors, acquirers, merchants and others may take longer than anticipated, or may not occur at all, regulatory changes, particularly in China and changes in card association regulations and practices; general economic risk and volume of international travel and commerce and others.. These forward-looking statements speak only as to the date of this announcement and cannot be relied upon as a guide to future performance. Planet Payment expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in its expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.