Planet Payment Inc. (PPT) - Cielo Brazil Initiative
RNS Number : 9461R
Planet Payment Inc.
26 November 2012
Date: 26 November 2012
On behalf of: Planet Payment, Inc. ("the Company" or "Planet
Embargoed until: 0700 hrs
Cielo and Planet Payment to Launch Multi-Currency Solutions in Brazil
Cielo, Latin America's leader in electronic payments solutions, and Planet
Payment, Inc. (UK: LSE: AIM: PPT and PPTR; USA: OTCQX: PLPM), a leading
international and multi-currency payment processor, today announced an
initiative to deliver Planet Payment's Pay in Your Currency® and Shop in Your
Currency™ services to Cielo's portfolio of merchants in Brazil.
The solution can offer significant value-added benefits to Cielo's merchants
and their customers, especially tourists expected to visit Brazil during the
two major global events - the World Cup in 2014 and the Olympics in 2016.
With the new tool, which will be available for 1.3 million Cielo merchants
next year in Brazil, international customers are offered the convenience of
paying in their home currency at the point-of-sale.
"Cielo has maintained its position as the top merchant services provider in
Latin America by listening to the needs of its clients and driving innovative
products that allow merchants to conduct and grow their businesses more
efficiently," said Eduardo Chedid, Products and Business Vice-President at
Cielo. "With more international visitors choosing Brazil as their destination
for leisure or business travel, this feature is a natural fit for our
merchants and an important addition to our product offering."
The customers are handed a receipt, or pointed to an electronic terminal which
show the transaction amounts in Real and their home currency, together with
the daily exchange rate and other service details. The customer then makes
their currency choice on the receipt or device. International travelers can
enjoy a more comfortable shopping experience by knowing what they are paying
in their home currency, while simultaneously providing the merchants
affiliated to Cielo with an opportunity to increase their product range and
thus increase their sales.
"We are very excited about our entry into the Brazilian market and are
delighted to have been selected by Cielo to deliver our innovative products
and services to their customers," said Philip Beck, Chairman and CEO of Planet
Brazil has seen steadily increasing levels of inbound international travel,
with this upward trend expected to continue in the future. According to
statistics released by The Brazilian Ministry of Tourism, a total of 5.4
million international visitors traveled to Brazil in 2011 -- an increase of
over 5% over 2010 visitor levels.
Cielo and Planet Payment will also be launching Shop in Your Currency which
enables Brazilian e-commerce merchants to more effectively target foreign
markets and close more sales from international customers. This solution
allows merchants to localize their offering and simplify the shopping
experience for international customers who can now view pricing and pay in
their home currencies, while the merchant receives settlement in Real as they
"We believe that our solutions will provide Cielo merchants with the tools to
enhance customer service and improve profitability while improving the
shopping experience for international customers," said Drew Soinski, SVP and
Managing Director of the Americas for Planet Payment.
Cielo SA (Bovespa: CIEL3 | OTC: CIOXY) is the Latin America's leader in
electronic payment solutions. It is responsible for acquiring merchants and
for the capture, transmission, processing and settlement of transactions made
with credit cards and debit cards in Brazil. Through thousands of simultaneous
and reliable operations, Cielo connects banks, card companies and merchants to
power businesses and boost the economy.
The high technology applied in Cielo's network allows the company to operate
with an availability rate of 99.995% over the year and 100% availability in
major retail dates. With more than 1.3 million active establishments
(considered those that had transactions effected at the terminals of Cielo in
the last 60 days), Cielo covers 99% of Brazilian territory.
For the last twelve months ended March 31st, 2012, Cielo's transactional
financial volume under the accounting criterion totaled R$ 337.7 billion. It
captured 4.8 billion transactions in the same period.
About Planet Payment
Planet Payment is a leading provider of international payment processing and
multi-currency processing services. We provide our services in 18 countries
and territories across the Asia Pacific region, North America, the Middle
East, Africa and Europe, primarily through our more than 45 acquiring bank and
processor customers. Our point-of-sale and e-commerce services help merchants
sell more goods and services to consumers, and are integrated within the
payment card transaction flow enabling our acquiring customers to process and
reconcile payment transactions in multiple currencies, geographies and
Planet Payment is headquartered in New York and has offices in Atlanta,
Beijing, Bermuda, Delaware, Dubai, Dublin, London, Hong Kong, Mexico City,
Shanghai and Singapore. Visit www.planetpayment.com for more information on
the Company and its services. For up-to-date information follow Planet Payment
on Twitter at @PlanetPayment or join Planet Payment's page on Facebook.
# # #
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 an intended definitive agreement and future service launches with
Cielo, and whether such events occur and the timing thereof, 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, regulatory changes and changes in card association regulations and
practices, changes in domestic and global economic conditions and changes in
volume of international travel and commerce, customer and merchant adoption of
Planet Payment's services and the risks related to international expansion and
international business uncertainties. See the Company's filed Registration
Statement on Form 10 for other risk factors which investors should consider.
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.
# # #
Contact: Joel Mayer
Redleaf Polhill (UK PR for Planet Payment)
Contacts: Emma Kane / Henry Columbine / David Ison
ICR (US PR for Planet Payment)
Contacts: Don Duffy / Dara Dierks
FSB Comunicações (Cielo Press Relations)
This information is provided by RNS
The company news service from the London Stock Exchange
NRABKPDPPBDDODB -0- Nov/26/2012 07:00 GMT
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