The exclusive distributor of Servebase products to merchants, banks, processors and point-of-sale providers in North America, Planet Payment has established itself as the leading independent provider of DCC services to acquiring banks and processors in that market. The relationship with Servebase enables Planet Payment to offer these innovative solutions into the European market.

While several competitive DCC solutions are currently available in the European marketplace, these services are typically supported through a separate POS application that works outside of a merchant’s existing credit card processing infrastructure, resulting in potential customer confusion at the point-of-sale, as well as reporting and reconciliation difficulties in accounting for its transaction activity.

The Planet Payment solution available today through Servebase eliminates many of the reporting and reconciliation issues inherent in the stand-alone solution by operating seamlessly, integrated within a merchant’s existing credit card processing infrastructure, providing an efficient means by which to offer DCC without disrupting the merchant’s existing business processes.

“Servebase has earned a reputation as a leading provider of cutting edge processing solutions in the European market,” said Colin Hodson, Chief Operating Officer of Servebase. “We firmly believe that the DCC solution that we are launching with Planet Payment fits perfectly within our suite of products and furthers our goal of providing our clients with the tools to conduct business as efficiently and effectively as possible.”

Mr. Hodson continued, “We viewed Planet Payment as an obvious partner for our initiatives in Europe based upon it’s leading position in the DCC market within the United States. Through Planet Payment’s extensive array of partnerships with the world’s leading point-of-sale solutions providers, acquiring banks and processors, we have the ability to offer our clients a DCC solution that can be immediately supported through a merchant’s existing Servebase and point-of-sale infrastructure, whether in Europe, North America or anywhere else in the world.”

“Planet Payment has been able to establish itself as a leading provider of DCC services in North America by offering a robust and reliable service that compliments, rather than replaces, a merchant’s existing business process,” said Philip D. Beck, Chief Executive Officer of Planet Payment. “We recognize that a merchant’s credit card processing system, and the ability to accept payment, are mission critical functions that are at the heart of a merchant’s business. As such, the DCC solutions we are introducing with Servebase provide European merchants the same innovative, integrated DCC solutions available to merchants in North America. Finally, European merchants can obtain all of the customer service and financial benefits inherent in DCC without the disruption and inefficiencies associated with other DCC solutions.”

About Servebase

PC-EFT is Servebase’s core product offering multi-currency, multi-user and multi-merchant numbers that can be linked to different acquirers and card plans. The application is also available within Servebase Ellipse range of hosted solutions. Servebase card payment technology processes over 60 million debit and credit card transactions every year for merchants and their customers in 32 countries. Servebase is currently accredited by 42 banks/processors and has over 1,200 clients worldwide supporting in excess of 50,000 points of sale. For further information please contact our advisors on +44(0) 870 333 7373 or visit our website at www.servebase.com. Media contact Sue Wallis on +44 (0) 144 286 4001 or suewallis@flipsidemarketing.co.uk.

About Planet Payment™

Planet Payment™ is the trade name for Planet Group, Inc. and its subsidiaries. A specialty multi-currency payment processor since 1999, Planet Payment has become a market leader in the burgeoning new field of time-of-sale, or "dynamic", currency conversion, a service in which a credit card transaction is converted from the currency in which the merchant offers its goods into the currency in which the customers' credit card is billed at the time of sale. Planet Payment provides its dynamic currency conversion service on behalf of merchant “acquiring” banks and processors that participate in Planet Payment’s program. To learn how to offer dynamic currency conversion through Planet Payment, please contact our Sales Department at +1.516.670.3200, via email at info@planetpayment.com or visit www.planetpayment.com.

CONTACT:

SERVEBASE COMPUTERS LTD
Colin Hodson
Chief Operating Officer
c.hodson@servebase.com
+44 (0) 870 333 7373

PLANET PAYMENT
Thomas J. DeLuca
SVP, Corporate Development
tdeluca@planetpayment.com
+1 516 670 3200, ext 118