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6/30/2008
Planet Payment Announces the U.S. Launch of BuyVoice™ Mobile Payment Solution
New service allows merchants to process credit card transactions from any telephone
LONG BEACH, NY --June 30, 2008-- 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.”
Merchants can obtain more information or sign-up for Payment BuyVoice at Planet Payment’s web site, www.planetpayment.com.
-Ends-
Enquiries to:
Planet Payment
Joel Mayer, Director Corporate Development
Tel: +1 516 670 3200
jmayer@planetpayment.com
Redleaf Communications Ltd (UK PR for Planet Payment)
Emma Kane / Rebecca Sanders-Hewett / Richard Girling / Henry Columbine Tel: +44 20 7822 0200
Fax: +44 20 7822 0201
planet@redleafpr.com
ICR, Inc. (US PR for Planet Payment)
Brian Prenoveau, CFA / Ashley Ammon MacFarlane Tel: +1 203 682 8200
About Planet Payment
• Further information on Planet Payment® can be found at: www.planetpayment.com.
• Planet Payment’s Common shares trade on AIM under the symbols PPT for unrestricted Common shares and PPTR for Reg S Common shares. All shares carry the same rights and privileges but PPT shares can now be settled through CREST.
• Planet Payment enables processors, acquiring banks and their merchants to accept, process and reconcile credit card transactions in multiple currencies, allowing cardholders to view prices and settle transactions in their native currency. The Pay in Your Currency™ service is a component of Planet Payment’s suite of multi-currency processing solutions, which include a multi-currency pricing e-commerce service and a Dynamic Currency Conversion service. Planet Payment also offers BuyVoice™, a mobile payment and commerce solution, which allows merchants to accept payments and sell product to customers using any mobile or landline phone.
• Planet Payment is headquartered in New York and has offices in Atlanta, Beijing, Bermuda, Delaware, London, Hong Kong, Shanghai and Singapore.
Forward-Looking Statements. Information contained in this announcement may include ‘forward-looking statements’. All statements other than statements of historical facts included herein, including, without limitation, those regarding Planet Payment’s financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Planet Payment’s business) are forward-looking statements. Such forward-looking statements are based on a number of assumptions regarding Planet Payment’s present and future business strategies and the environment in which Planet Payment expects to operate in future, which assumptions may or may not be fulfilled in practice. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors, including the risk that implementation, adoption and offering of the service by processors, acquirers, merchants and others may take longer than anticipated, or may not occur at all, regulatory changes, particularly in China and changes in card association regulations and practices; general economic risk and volume of international travel and commerce and others. These forward-looking statements speak only as to the date of this announcement and cannot be relied upon as a guide to future performance. Planet Payment expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in its expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.
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