Planet Payment [LSE: AIM: PPT and PPTR; OTCQX: PLPM], a leading multi-currency and data processor and The Bancorp Bank ("Bancorp"), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), today announced an agreement to provide Planet Payment's suite of products and services to Bancorp's merchants and third party servicers in the U.S. payments market.
As part of the business arrangement, Bancorp will utilize Planet Payment's leading multi-currency processing platform to provide merchants with tools to increase their sales and operate their businesses more efficiently. The individual solutions that will be made available to Bancorp customers include:
- Multi-Currency Pricing: Allows merchants to sell more effectively to international customers by pricing in foreign currencies on a website or in a catalogue and accepting payment in the currency the customer chooses;
- Pay in Your Currency: Provides merchants with a powerful customer service feature that allows customers to pay for their purchases in the currency they know best - their own; and
- iPAY: Offers card-not-present merchants a suite of robust payment and business management solutions, including the industry leading iPAY payment gateway.
"We are excited to add Planet Payment's robust product suite to The Bancorp Bank's payment processing offering," said Frank M. Mastrangelo, President of The Bancorp Bank. "The business arrangement with Planet Payment enhances one of our core missions of providing leading-edge payment solutions to the U.S. market. Planet Payment's multi-currency processing and iPAY gateway solutions offer our customers powerful tools to increase revenue and simplify operations."
"Planet Payment, from its inception, has been dedicated to providing banks and merchants with the tools to increase efficiency, open new sales channels and maximize revenues - goals that are more important than ever in these challenging economic times," said Philip D. Beck, Chief Executive Officer of Planet Payment. "We look forward to working with The Bancorp Bank to deploy our business-building solutions throughout the U.S. market."