Planet Payment Launches UnionPay Solution Enables Online UnionPay Acceptance in the United States and Canada LONG BEACH, N.Y., March 18, 2013 (GLOBE NEWSWIRE) -- Planet Payment, Inc. (Nasdaq:PLPM) (LSE:PPT) (LSE:PPTR), a leading international and multi-currency payment processor, today announced the launch of a solution to enable eCommerce merchants in the United States and Canada to accept UnionPay cards. UnionPay is one of the largest card brands in the world, with over 3.5 billion cards issued worldwide. Since the majority of Chinese consumers carry UnionPay cards, in order to effectively sell to the widest possible pool of Chinese consumers, merchants need the ability to accept UnionPay cards on their websites. Planet Payment's solution does just that, by enabling merchants to participate in UPOP – UnionPay's program to authenticate and process UnionPay cards online. UPOP allows merchants to more effectively tap into what is projected to be the world's largest eCommerce market by 2015 (Forbes Magazine, May, 31, 2012). Planet Payment integrated the UPOP into iPay, the Company's payment gateway, providing merchants with the option of creating a customized payment experience using Planet Payment's API or leveraging iPay's Hosted Payment Page for an easy-to-implement solution. Merchants can obtain UPOP directly from Planet Payment as a standalone solution, allowing merchants to gain the benefit of the UPOP solution without disrupting any of their existing processing relationships. Planet Payment will also be adding UPOP to its Shop in Your Currency service, allowing merchants to localize their offering and simplify the shopping experience by enabling Chinese consumers to view pricing and pay in RMB, while the merchant receives settlement in either United States Dollars or Canadian Dollars. UPOP also features an SMS-based authentication system that can help merchants minimize fraudulent transactions. Once a cardholder enters their card details in the payment page, UnionPay sends a PIN Code to the cell phone that is registered to the UnionPay card. The cardholder is then prompted to enter this PIN to complete the transaction -- providing a strong form of customer authentication. International Checkout, a leading third-party payment and fulfillment service for US retailers selling globally online, is the first merchant to launch Planet Payment's UPOP solution in the United States. The company provides its global eCommerce solution to more than 1500 retailers and brands, including bebe, Andrew Marc, Alice + Olivia, and Joie. "At International Checkout, our mission is to provide merchants with the tools to increase sales by expanding internationally, while offering consumers easy access to an array of premier online merchants," said Saskia Chiesa, President and CEO at International Checkout. "We are thrilled to add UPOP to our product offering through our relationship with Planet Payment and make selling to China, and shopping from China, easier for both our merchants and their customers." "UnionPay is a significant addition to our eCommerce product set," said Philip D. Beck, Chairman and CEO of Planet Payment. "We believe that our UPOP solution is an important tool for merchants seeking to sell more products and services to the strategically significant Chinese eCommerce market." Planet Payment is now accepting applications for the UPOP solution from merchants in the United States and Canada.Merchants are invited to contact Paul Levine at 561.859.0901 or via email at email@example.com for additional information. About Planet Payment Planet Payment is a leading provider of international payment processing and multi-currency processing services. We provide our services in more than 20 countries and territories across the Asia Pacific region, North America, the Middle East, Africa and Europe, primarily through our more than 50 acquiring bank and processor customers. Our point-of-sale and eCommerce services help merchants sell more goods and services to consumers, and together with our ATM services are integrated within the payment card transaction flow enabling our acquiring customers, their merchants and consumers to shop, pay, transact 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 about the Company and its services. For up-to-date information follow Planet Payment on Twitter at @PlanetPayment or join Planet Payment's Facebook page. CONTACT: Media Contacts Planet Payment Contact: Joel Mayer Telephone: +1.516.670.3200 Email: firstname.lastname@example.org www.planetpayment.com Merchant Inquiries: Contact: Paul Levine Telephone: +1.561.859.0901 Email: email@example.com Redleaf Polhill (UK PR for Planet Payment) Contacts: Emma Kane / Henry Columbine / David Ison Telephone: +44.20.7566.6720 Email: firstname.lastname@example.org ICR (US PR for Planet Payment) Contacts: Don Duffy / Dara Dierks Telephone: +1.646.277.1212
Planet Payment Launches UnionPay Solution
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