Planet Payment Inc. PPT Cielo Brazil Initiative

  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
Payment")

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
Payment.



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.



Online Sales

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 
do today.



"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.



About Cielo

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 
channels.

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.



                                    # # #

Media Contacts



Planet Payment 

Contact: Joel Mayer 

Telephone: +1.516.941.1813 

Email: jmayer@planetpayment.com 

www.planetpayment.com



Redleaf Polhill (UK PR for Planet Payment)

Contacts: Emma Kane / Henry Columbine / David Ison

Telephone: +44.20.7566.6720

Email: planet@redleafpolhill.com



ICR (US PR for Planet Payment)

Contacts: Don Duffy / Dara Dierks

Telephone: +1.646.277.1212



FSB Comunicações (Cielo Press Relations)

Mariana Ribeiro

Mariana.ribeiro@fsb.com.br

(11) 3165-9705

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


NRABKPDPPBDDODB -0- Nov/26/2012 07:00 GMT
 
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