Planet Payment launches mobile commerce system in the US

Source: Planet Payment

Planet Payment (LSE:AIM:PPT and PPTR), a leading international multi-currency payment and data processor, announces the commercial launch in the United States of Payment BuyVoice, an innovative mobile commerce solution.

Payment BuyVoice provides merchants with a cost effective, secure and convenient way to accept credit cards, from any mobile phone or landline.

Payment BuyVoice is an easy-to-use payment solution - merchants simply dial the dedicated Payment BuyVoice toll-free number when they need to process a credit card payment. The application initially authenticates the merchant's credentials through password and PIN validation, and then prompts the merchant for the relevant card details, which can either be spoken or key-entered. The system also supports common fraud-control features, including address and card verification value (CVV) code collection. The application submits the transaction for authorization, which is communicated back to the merchant, who subsequently receives payment for the transaction directly from their merchant bank.

Planet Payment's solution enables merchants to use their existing mobile or landline telephone to enjoy all the traditional benefits of credit card acceptance, including additional sales, expedited cash flow and reduced risk by eliminating bounced checks. Payment BuyVoice is a fully hosted application that provides merchants with immediate availability using their existing telephone and mobile carrier, without the purchase of any additional hardware. The solution does not require the downloading of any software applications to the merchant's phone, eliminating potential memory limitations and preventing the introduction of viruses, as could be the case with other mobile payment solutions.

Payment BuyVoice is perfect for merchants on the go, such as taxi and limousine drivers, direct marketers, and household service and delivery personnel. In addition, merchants located in areas with limited availability of access to point-of-sale systems can use Payment BuyVoice to process credit cards.

Commenting on the launch of Payment BuyVoice, Planet Payment Chief Executive Officer Philip Beck said: "BuyVoice fills a very significant market need, both in the U.S. and internationally. As more consumers move away from cash to credit cards for payment of all types of purchases, merchants of all types and size require cost effective and simple means to accept credit card payments. Now, with our solution, the lack of a credit card terminal will no longer be a barrier to any merchant seeking credit card acceptance."

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