Planet Payment [LSE: AIM: PPT and PPTR; OTCQX: PLPM], a leading multi-currency and data processor, is pleased to announce that it has completed and received certification of the Company's iPAY payment gateway on the Tsys Acquiring Solutions (Tsys) processing platform.
The certification announced today allows TSYS customers to enjoy the robust iPAY payment gateway features, including tools that allow merchants to grow their business by more effectively tapping into foreign markets.
TSYS currently offers a Multi-Currency Pricing service, powered by Planet Payment, which allows merchants to better reach international markets through price localization. With Multi-Currency Pricing, merchants can increase their global sales and convert more international browsers into customers when they shop, view pricing, and pay in their home currencies - an essential component to any merchant's international sales strategy. Now, through this certification, TSYS acquirer and ISO customers can offer merchants a complete global e-commerce solution - including full domestic credit, debit and ACH processing and seamless support of the Multi-Currency Pricing service - through the ease of a US based merchant account settling in US dollars.
"The certification of the iPAY gateway by TSYS will provide their customers with a powerful e-commerce and card-not-present product suite including a robust Multi-Currency Pricing service, which can deliver significant new revenues and provide a powerful competitive differentiator and merchant retention tool to the merchant acquiring industry." said Joel Mayer, SVP of Product Management.
The iPAY gateway also features one of the industry's most flexible recurring billing engines to manage subscription billing and customer notices in real-time. Another key component of the gateway, iPAY TokensTM, helps protect sensitive customer payment account data, by encrypting and assigning a unique token that is stored securely in Planet Payment's PCI compliant data vault. Merchants have the ability to process payments by passing the token, rather than handling and storing sensitive customer data, facilitating a merchant's PCI compliance and reducing exposure related to the storage of customer account datt data.