Planet Payment [LSE: AIM: PPTR and PPT], a leading international multi-currency payment and data processor, announced today that it had secured Class B+ certification for its Hypercom T7 Plus terminal application operating on First Data's Omaha transaction platform.

 

As a result of this certification, acquirers, processors and resellers that utilize the First Data Omaha platform now have access to the Planet Payment terminal application, which includes support of its Dynamic Currency Conversion (DCC) service.

With DCC, merchants continue to price their goods in United States dollars. After a MasterCard® or Visa® card issued in one of the supported foreign currencies is swiped through the T7 Plus terminal, the device will automatically display the transaction amount in both US Dollars and the customer’s currency. The customer can then select which currency he wants to use to complete the purchase, while the merchant still receives the settlement in US dollars.

With DCC, customers have the comfort and convenience of knowing the cost of the purchase in their currency, enabling them to make more informed buying decisions. Additionally, DCC provides acquirers and resellers with a powerful new product that can be used to attract new merchants, reduce merchant attrition and improve the profitability of their overall business operation.

Planet Payment’s DCC service is delivered through the existing processing infrastructure, and was designed to easily integrate into an acquirers or reseller’s existing product set. The certification of Planet Payment’s T7 Plus DCC-enabled terminal on First Data’s Omaha Platform will facilitate the availability of the Service to acquirers and resellers in the United States. As a result of the certification, Omaha Platform users can continue to process non-DCC transactions through First Data as normal, while DCC transactions are routed to Planet Payment for processing.

Commenting on this new certification, Paul Whittle, Senior Vice President -Terminal Product Manger of Planet Payment, said:

“We are excited by the certification of our DCC-enabled Hypercom T7 Plus application by First Data. Planet Payment has seen a growing market need for DCC in the U.S. market, with more and more acquirers and resellers seeking the customer service and revenue benefits associated with the Service. Now, with this certification on First Data’s Omaha Platform, our DCC service can be implemented and supported and simply and efficiently as part of the acquirer or reseller’s current processes.”

Enquiries to:

Joel Mayer
Director, Corporate Development
Planet Payment
670 Long Beach Boulevard
Long Beach, NY 11561 Tel: +1.516.670.3200
Fax: +1.516.670.3520
jmayer@planetpayment.com

Emma Kane
Chief Executive
Redleaf Communications Ltd.
9-13 St Andrew Street
London EC4A 3AF Tel: +44 20 7822 0200
Fax: +44 20 7822 0201
ek@redleafpr.com


About Planet Payment

Planet Payment is the trade name for Planet Group, Inc. [LSE: AIM: PPTR and PPT for Reg S and unrestricted common shares respectively]. Further information on Planet Payment can be found at: www.planetpayment.com

Planet Payment is a multi-currency payment and data processor, enabling 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. Planet Payment’s systems also enable it to provide enhanced data reporting and data management to merchants who are using multiple systems in different countries.

The Planet Payment business was established in 1999. Planet Payment is headquartered in New York and has offices in Atlanta, the United Kingdom, Bermuda, Singapore, Hong Kong, Shanghai and Beijing.

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 merchants may take longer than anticipated, or may not occur at all. 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.