Planet Payment [LSE: AIM: PPT and PPTR; OTCQX: PLPM], a leading multi-currency and data processor, announced today that it had signed an agreement to provide processing support to JCB International, the wholly owned subsidiary of JCB Co., Ltd., a major global payment brand holder and leading issuer and acquirer in Japan, for JCB merchants located in Hong Kong.
The Agreement announced today expands the relationship between Planet Payment and JCB International, which involves Planet Payment providing processing support to several JCB acquirers in Hong Kong. As part of the solution announced today, Planet Payment will now be providing back-end settlement and clearing processing for all merchants acquired directly by JCB in Hong Kong. Planet Payment expects the solution to be live on or before June 1, 2009.
Commenting on the agreement, Philip D. Beck, Chief Executive Officer of Planet Payment said: "The Agreement with JCB International announced today is an excellent example of how Planet Payment can leverage its powerful, currency neutral platform to provide flexible solutions that meet the specific business needs of our banking and processor customers. We are delighted to have been selected by JCB International, as JCB is one of the world's major card brands, to provide full settlement and clearing processing support for JCB merchants in Hong Kong that are directly acquired by JCB International."