Global Payments and Planet Payment in North America multi-currency agreement

Source: Global Payments

Global Payments (NYSE:GPN), a leader in electronic transaction payment processing, and Planet Payment (LSE:AIM.l), a leading multi-currency payment and data processor, today announced agreements to provide multi-currency processing services.

The agreements include the offering of Global HomeCurrencyPay, an innovative multi-currency processing solution powered by Planet Payment, to Global Payments' base of ISO and merchant customers in the United States and Canada.

Global HomeCurrencyPay will offer significant value-added services to merchants, allowing their customers the flexibility to process transactions in the cardholders' home currencies while knowing the exact purchase amounts before the statements arrive, as well as reducing processing costs for overseas card transactions. Multi-currency Pricing will provide merchants the opportunity to attract more international customers with the ability to view pricing and pay in many foreign currencies. These solutions also provide Global Payments with a sales edge in a highly-competitive market by supplying a dynamic new tool intended to improve product offerings, expand merchant portfolios and enhance merchant loyalty.

Unlike other products, the Global Payments and Planet Payment solutions enable merchants to participate through the ease and convenience of a standard merchant account, in the merchant's local currency. They continue to receive all funding from Global Payments in U.S. or Canadian Dollars with the same funding schedule as their domestic transaction activity, avoiding complications and funding delays.

These agreements announced today expand the current relationship between Global Payments and Planet Payment dating back to November 2007 covering the provision of the Global HomeCurrencyPay service in China, Hong Kong, Macau, Taiwan, Brunei, India, Malaysia, Singapore, Sri Lanka, the Maldives and the Philippines.

"Global Payments continually aims to offer its merchants and ISOs superior products and solutions and we are very excited to offer Global HomeCurrencyPay, powered by Planet Payment to our customers," said Sid Singh, Vice President, Corporate Product for Global Payments Inc. "Global Payments has been offeffering Global HomeCurrencyPay to its merchants in Asia Pacific since 2007, with positive market reaction and substantial merchant uptake in the region."

"The adoption of Planet Payment's multi-currency processing services has increased dramatically over recent years as more merchants around the world view the services as powerful tools to help improve sales, customer satisfaction, and net profits," said Philip Beck, Chairman and CEO of Planet Payment. "As a provider of quality payment solutions to the U.S. and Canadian business communities, we are excited to partner with Global Payments, one of the leaders and innovators in the field."

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