7/31/2001

Wall Street Takes a Look at Planet Payment^® and Likes What It Sees:

NEW YORK, NY (July 31, 2001) -- While the stock market today may be treating some companies with trepidation, major Wall Street banks, financial institutions and research firms continue to rank Planet Payment as a leading driver in the global payments arena. Those who keep an eye on the e-payments industry (including J.P. Morgan Chase & Co., Deutsche Banc Alex.Brown, The Boston Consulting Group, The Lafferty Group, and Financial DNA) cited Planet Payment in a number of their recent industry reports.

The advent of Internet-based technologies has accentuated the gaps that have existed in the international credit card and banking industries for decades. The recent analyst reports explain how Planet Payment’s multi-currency payment services help bridge these gaps and, in doing so, are helping to redefine the global payment industry.

At today's gathering of Wall Street investors (Technologic Partners' 'E-Finance and the Changing Landscape' at the Marriott World Trade Center in New York City), Philip Beck, CEO of Planet Payment, stated his vision of Planet Payment and the future of the electronic payment industry.

"This is a very dynamic and critical juncture in the payments industry. Planet Payment has been preparing for this point in time for the past three years. We anticipated this era of "glocalization" - where global businesses need to act local in the markets in which they wish to succeed. We have developed innovative products that leverage on this concept and allow the new global merchant to think globally and sell locally.

"Today, our multi-currency payment services provide inexpensive, global solutions that until now had not been seen - or were even possible - in the banking and credit card industry. It is exciting now to see our ideas finally being embraced, and in some cases practically employed, by some of the key analysts and players in the industry," continued Mr. Beck.

Just this past month, J.P. Morgan Chase & Co., a global financial services firm, cited Planet Payment in its Transaction Management Infrastructure Report under "Competition and the Emerging Landscape":

"There are several gateway technology/services vendors in the market today-We believe the trend toward bundling more robust and trusted payment services will continue-Other value-added services that should gain relevance as transactions escalate include - multi-currency services (e.g., Planet Payment).

The same J.P. Morgan Chase & Co. Report listed Planet Payment as one of the "Select B2B Enablers/Gateways" and included a separate corporate profile of Planet Payment. (See Internet Infrastructure: Transaction Management Infrastructure—Kinetic Energy for E-Business June 11, 2001, J.P. Morgan Chase & Co.)

The Boston Consulting Group, the international strategy and general management consulting firm, recently cited Planet Payment under “Drivers of Change” in its 2000/1 Global Payments Report:

"[E]stablished merchant acquirers in many countries have created a wonderful "Catch-22." Online merchants cannot accept cards without a (12 month plus) trading history; but . . . e-tailers cannot develop a trading history without card acceptance. A solution - a non-bank solution - is available from payment service providers such as . . . Planet Payment . ."

"The Internet is accelerating change across the payments industry. Fuelled by technology, new providers are entering the payments market and creating new payments choices…The endgame for payments is unclear. It is quite possible that online providers will come to dominate the online consumer and small business arena, isolating banks from their customers, and excluding them from the growing internet payments market." (See Global Payments Report 2000/1, A Senior Management Perspective, October 2000, Boston Consulting Group.)

Deutsche Banc Alex. Brown, Deutsche Bank’s North American investment banking and brokerage business identified Planet Payment as one of the new and emerging financial players that could eventually replace the existing financial intermediary.

"Settlement Specialists . . .offer a higher-value/lower-cost value proposition relative to existing fulfillment providers. . . .Planet Payment provides multicurrency payment solutions for businesses around the world."

"End networking players will act almost as a faceplate to a bank or payment's network. They will help solve real world problems where the bank, bank processor or payment's network proves incapable of doing so." (See September 7, 2000 "Breaking up the Financial Intermediary," Deutsche Banc Alex. Brown.)

The Lafferty Group, one of the world's leading providers of high-value business intelligence, devoted an entire chapter on a case study of Planet Payment illustrating a pioneering method to facilitating Multi-Currency Internet Credit Card Payments.

"Planet Payment has found an innovative way for internet merchants to accept payments in multiple currencies. The New York-based company has established a network of banks around the world which give it the facility to process credit and debit card payments in 140 different currencies" (See Web-enabling Business Payments: Profiting from Straight-through Processing, May 2001, Lafferty Cards & Payments Report.)

Financial DNA, a Wall Street research and advisory firm specializing in the E Finance industry, sees Planet Payment as a value driver that will continue to make significant strides in the global payments arena:

"Some Gateways, including . . . Planet Payment in particular, provide arbitrage savings given their ability to switch immediately to the lowest cost regime . . . providing viable long-term services that will likely make them successful. . . " (See The Current State of Internet Payment Processing, March 2001, Financial DNA.)

For more information on Planet Payment or for information on how to receive a copy of any of the above referenced reports, please contact jcleary@planetpayment.com.

About Planet Payment: Planet Payment (www.planetpayment.com) is a global leader in providing multi-currency Internet payment solutions to merchants, technology companies and financial institutions worldwide. Planet Payment's affordable solution enables Internet merchants to securely accept Visa®, MasterCard®, American Express® and other major debit and credit cards in a secure, real time environment, and in over 130 currencies – whether the buyer is using a personal computer, mobile telephone, or other wireless device. The Planet Payment Gateway, powered by Authorize.Net, is compatible with over 100 of the leading shopping cart technologies. Planet Payment can be contacted in the U.S. at 950 Third Avenue, New York, NY 10022 (Tel: +1 212.980.5100). Planet Payment can be reached on the web at www.planetpayment.com.