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3/25/2008
Global Payments and Planet Payment Announce Agreement for
“Pay in Your Currency” Service for HSBC Merchants in China
Global Payments [NYSE:GPN], a leading provider of electronic transaction processing services, has entered into an agreement with Planet Payment [LSE:AIM: PPTR and PPT], a leading international, multi-currency payment and data processor, to offer Pay in Your Currency™ dynamic currency service to HongKong & Shanghai Banking Corporation’s (“HSBC”) merchants in the People’s Republic of China.
The service gives the consumer the opportunity to have the payment transaction converted to their selected currency, providing the benefit of immediately knowing the payment amount. Global Payments anticipates launching the service in China prior to the 2008 Beijing Olympics.
Through its joint venture with HSBC, Global Payments has established a leading position in the Asia-Pacific region, where it now operates in ten countries and territories. Global Payments, through its local affiliate, will provide consulting and technical services to HSBC as necessary to support the service in China. This agreement expands upon the existing relationship between Global Payments and Planet Payment for Global Payments’ merchants in Malaysia and Taiwan.
Managing Director of Global Payments Asia-Pacific Limited, Ian Courtnage, said, "Global Payments is pleased to provide this multi-currency solution to HSBC merchants in the People’s Republic of China. Global Payments is focused on providing cutting-edge processing solutions to our merchants to benefit their customer’s payment experience. We view the addition of the “Pay in Your Currency” solution to our product set as another example of our commitment to product excellence. Our decision to utilize Planet Payment’s service is based on the quality and depth of their product offering, and we look forward to working with their team in the Asia-Pacific region.”
Commenting on the relationship with Global Payments, Chairman and Chief Executive of Planet Payment, Philip Beck, said, “We are pleased to be working with Global Payments to introduce our Pay in Your Currency service to Global Payments’ merchants in China. The service allows merchants to market and sell more effectively, while providing their customers with the information to make better and more informed buying decisions. This agreement is another example of the growing market adoption for this service, as both merchants and cardholders alike gain awareness of its benefits.”
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Enquiries to:
Planet Payment
Thomas DeLuca, SVP Corporate Development
Joel Mayer, Director Corporate Development
Tel: +852 9303 0658
tdeluca@planetpayment.com
Tel: +1.516.670.3200
jmayer@planetpayment.com
Redleaf Communications Ltd (for Planet Payment)
Emma Kane / Samantha Robbins / Richard Girling / Henry Columbine
Tel: +44 20 7822 0200
Fax: +44 20 7822 0201
planet@redleafpr.com
ICR, Inc. (for Planet Payment in the USA)
Brian Prenoveau, CFA / Ashley Ammon MacFarlane
Tel: +1 203 682 8200
Canaccord Adams Ltd (for Planet Payment)
Mark Williams/Clayton Bush
Tel: +44 20 7050 6500
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.
· 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 recently launched 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, London, Hong Kong, Shanghai and Singapore.
About Global Payments
Global Payments Inc. (NYSE:GPN) is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies, gaming establishments, and multi-national corporations located throughout the United States, Canada, Latin America, Europe and the Asia-Pacific region. Global Payments offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. The company also provides consumer money transfer services from the U.S. and Europe to destinations in Latin America, Morocco, and the Philippines. For more information about the company and its services, visit www.globalpaymentsinc.com
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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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