LAS VEGAS, NV (April 7, 2003) – Planet4, a joint venture between Shift4, a developer of financial transaction processing software and Planet Payment, an innovative provider of multi-currency credit card processing solutions, announce today an agreement with Servebase, a leading provider of consolidated credit card processing solutions, for the establishment of a reciprocal processing gateway between the Servebase’s European platform and Shift4’s North American processing solution. The international gateway will provide e-commerce and physical-world merchants with a robust multi-currency enabled “one stop shop” solution satisfying their global card processing needs and will give merchants access to a network of the world’s premier acquiring banks and processors.
The gateway will benefit multi-national businesses with operations in multiple countries, which frequently must authorize and settle transactions through local acquiring banks in each individual market. This presents a host of challenges from an operational perspective, including multiple and inconsistent financial reporting and redundant independent point-of-sale technologies. Now, merchants with foreign locations can consolidate payment transactions for all locations through one common point-of-sale interface, resulting in efficiencies in back-office technology, as well as one source for consolidated financial reporting.
“We are pleased to have the opportunity to work with Shift4 and Planet Payement, recognized leaders in the United States of multi-currency processing solutions,” says Luigi Del Basso, Chief Executive Officer of Servebase. “The agreement to establish reciprocal connectivity between our respective processing platforms will allow our clients with operations within North America to utilize one of Shift4’s acquiring banking partners while receiving consolidated reporting through their existing Servebase infrastructure. The fact that our merchants no longer need to rely upon multiple applications to satisfy their global credit processing needs is truly revolutionary and presents a compelling value proposition.”
J. David Oder, President and CEO of Shift4, said “The majority of Shift4’s client base consists of large multi-national corporations with operations located throughout the world. These clients have long sought a processing solution which would allow them to consolidate their global credit card processing through one common interface. Now, through our initiative with Planet Payment and Servebase, there is no need for our clients to sift through multiple and often inconsistent transaction processing reports. All of the information detailing the merchant’s transact activity worldwide is available at the touch of the button in one location. We believe that this new solution will provide the world’s merchants with the tools necessary to improve and streamline the way business is done internationally.”
About Shift4 Shift4 is a developer and provider of financial transaction processing software and services with a merchant centric focus. Shift4 was incorporated in 1994 and has a diverse customer base of merchants from many industries including retail, food and beverage, hospitality, MOTO, eCommerce, medical and auto rental. Shift4's products include $$$ IN THE BANK® Net Enterprise™ and $$$ ON THE NET®. For more information about Shift4, please contact Tina Tasaka at 702.597.2480 or via email at tina@shift4.com or visit www.shift4.com.
About Servebase Established in 1986 Servebase is a leading provider of multi-currency payment solutions to merchants in many sectors across three continents. Probably best known is PC-EFT enterprise solution that is used most notably in the hospitality sector and call centre environment. For more information about Servebase, please contact Colin Hodson at +44 (0) 870.333.7373 or via email at c.hodson@servebase.com or visit www.servebase.com.
About Planet Payment Planet Payment(tm) is the trade name for Planet Group, Inc. and its subsidiaries. A specialty multi-currency payment processor since 1999, Planet Payment has become a market leader in the burgeoning new field of point-of-sale, or "dynamic", currency conversion, a service in which a credit card transaction is converted from the currency in which the merchant offers its goods into the currency in which the customers' credit card is billed - in real time at the point-of-sale. For more information about Planet Payment, please contact Thomas DeLuca at 516.670.3200 or via email at tdeluca@planetpayment.com or visit www.planetpayment.com