PAY.ON and Planet Payment Announce Strategic Partnership to Power Planet Payment's International Gateway
MUNICH and LONG BEACH, New York – PAY.ON, a worldwide partner for payment technology outsourcing, and Planet Payment, Inc. (NASDAQ:PLPM), a leading provider of international and multi-currency payment processing services, today announced a partnership to enhance Planet Payment's international service offering with PAY.ON's innovative gateway solutions. Planet Payment anticipates launching the service in Q2 2015.
This strategic partnership will allow Planet Payment to leverage PAY.ON's comprehensive payment technology to onboard merchants faster and expand the international payment solutions available to their merchant clients, enabling growth into new markets. Planet Payment will now be able to enhance its retail payment processing services with PAY.ON's mobile point-of-sale, mCommerce, and eCommerce solutions to offer merchants omni-channel payment processing. Transactions from all channels are driven through a single payment processing platform, allowing merchants to receive reports on all electronic payment transactions processed through multiple sales channels from a single source.
PAY.ON will power Planet Payment's gateway with enhanced mCommerce functionality, creating a mobile payment solution for both iOS and Android devices that will enable consumers - using a merchant's shopping application - to complete their purchases using their smartphones. The simple integration enables merchants to more easily expand their online offerings to a broad range of mobile devices. According to Juniper Research, mobile retail purchases are expected to exceed $700bn annually by 2018, representing 30% of eRetail by that time.[1
Planet Payment and PAY.ON's partnership will also give Planet Payment merchants access to over 300 alternative payment types and acquirers around the world, allowing them to capture more sales by offering the optimal payment set-up for every market.
In addition to these enhanced gateway capabilities, Planet Payment's clients will benefit from PAY.ON's COPYandPAY widget-based payment forms, which allow merchants to completely remove themselves from the process of collecting sensitive payment information, thereby substantially simplifying PCI DSS compliance obligations.
Adam Bowman, Vice President Sales Business Development at PAY.ON America, said, "We're delighted that Planet Payment has chosen to power their payment gateway with PAY.ON's industry-leading technology. With our combined services, we can simplify cross-border expansion for merchants worldwide. PAY.ON addresses regulatory and compliance issues, including PCI DSS 3.0, and develops intuitive, modular solutions that give merchants the flexibility that they demand. We are confident that in working closely with Planet Payment, we can deliver a first-class service to clients in the USA, Canada, and globally."
"Planet Payment is pleased to announce our partnership with PAY.ON, which will complement our current gateway offering," said Paul Levine, President of Planet Payment Solutions. "We believe that PAY.ON's technology is complementary to our current suite of services and will be of great benefit to our existing merchant relationships, as well as in the acquisition of new customers."
PAY.ON delivers white label global payment gateway solutions to ISOs, acquirers, ISVs, and VARs, enabling them to fully outsource payment transaction processing or integrate a gateway-to-gateway solution. A modular payment gateway provides cross-border payment connectivity, PCI-compliant merchant boarding, and access to more than 300 domestic and international acquirers and alternative payment methods. Delivered by innovative open payment technology, PAY.ON enables payment businesses to rapidly increase international revenues, reduce costs and risk, and accelerate market expansion.
Headquartered in Munich, PAY.ON has subsidiaries and representation in New York, Hong Kong, Salzburg, Manila, London, Paris, Umea, and Sydney. Visit http://www.payon.com for more information about PAY.ON's white label global payment gateway solutions.
About Planet Payment
Planet Payment is a leading provider of international payment processing and multi-currency processing services. We provide our services in 23 countries and territories across the Asia Pacific region, North America, the Middle East, Africa and Europe, primarily through our 70 acquiring bank and processor customers. Our point-of-sale and eCommerce services help merchants sell more goods and services to consumers, and together with our ATM services are integrated within the payment card transaction flow enabling our acquiring customers, their merchants and consumers to shop, pay, transact and reconcile payment transactions in multiple currencies, geographies and channels.
Planet Payment is headquartered in New York and has offices in Atlanta, Beijing, Bermuda, Delaware, Dubai, Dublin, London, Hong Kong, Mexico City, Shanghai and Singapore. Visit http://www.planetpayment.com for more information about the Company and its services.
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