8/8/2000

(New York / London - August 8, 2000) Planet Payment (www.planetpayment.com) today unveiled its next generation hosted Internet payment gateway. This gateway is specifically designed to accommodate the increasing demand by e-commerce companies for sophisticated multi-currency payment solutions to tap the enormous opportunities for global Internet transactions. The solution allows merchants everywhere the ability to accept most credit and debit card transactions in more than 140 currencies.

Planet Payment's next generation gateway, powered by Go2Net's Authorize.Net Corp. (www.authorize.net), includes several exciting new technologies that enable merchants to display pricing in a customer’s local currency while providing back-end settlement and reporting to the merchant in the currency of its choice. Internet merchants can add this multi-currency capability by integrating the Planet Payment Gateway to their e-commerce sites. With the simple instructions for integration found at https://secure.planetpayment.com/docs), merchants can have full multi-currency capability for their Internet customers within minutes.

"This next generation Internet payment gateway continues our stated strategy to become the global leader in providing multi-currency Internet and wireless payment solutions to merchants, technology companies and financial institutions worldwide. The new multi-currency features of the Planet Payment Gateway enable a merchant to localize its Internet store by allowing customers to view prices and pay for goods in the currency of the customer’s choice, while still enabling the merchant to receive payment and reporting in the currency of the merchant's choice," says Philip Beck, Chief Executive Officer of Planet Payment

About Planet Payment

Planet Payment (www.planetpayment.com) is a global leader in providing multi-currency Internet payment solutions to merchants, technology companies and financial institutions worldwide. Planet Payment's affordable solution enables Internet merchants to securely accept Visa®, MasterCard®, American Express® and other major debit and credit cards in a secure, real time environment, 24 hours a day and in over 140 currencies – whether the buyer is using a personal computer, mobile telephone, or other wireless device. The Planet Payment Gateway, powered by Authorize.Net, (www.authorize.net) is compatible with over 100 of the leading shopping cart technologies. Planet Payment can be contacted in the U.S. at 950 Third Avenue, New York, NY 10022 (Tel: 212/980-5100). Planet Payment can be reached on the Web at http://www.planetpayment.com.