Long Beach, N.Y. – March 5, 2014 – Planet Payment, Inc. (NASDAQ:PLPM) (LSE: AIM: PPT), a leading provider of international and multi-currency payment processing services, announced that CardWorks Acquiring, LLC, a registered Merrick Bank Independent Sales Organization, had agreed to offer Planet Payment Shop In Your Currency (SYC) to CardWorks’ portfolio of merchants in the United States. The parties anticipate launching the solution in March 2014.
According to research by eMarketer, global B2C eCommerce sales are expected to reach $1.44 billion U.S. dollars in 2014, climbing to $1.85 billion by 2016.1 Shop In Your Currency allows merchants to more effectively tap into the global e-commerce market by localizing their offering and simplifying the shopping experience for international customers who view pricing and pay in their home currencies, while the merchant receives settlement in U.S. dollars as they do today.
“Our goal is to provide our merchants with a simple, seamless way to increase global sales and maximize their reach abroad,” said Dan Doyle, President of CardWorks Acquiring. “With Shop In Your Currency, we look forward to helping our merchants by providing them with the tools to create an enhanced shopping experience for their international customers.”
“We are excited to announce our agreement with CardWorks Acquiring to provide our Shop In Your Currency solution to their network of merchants in the U.S.,” said Drew Soinski, managing director of the Americas at Planet Payment. “Our goal has always been to help merchants sell more goods and services, and we look forward to helping CardWorks’ merchants do just that by providing the tools to capture more sales from international customers.”
ABOUT CARDWORKS ACQUIRING, LLC
CardWorks Acquiring, LLC, is a subsidiary of CardWorks, Inc. CardWorks has been providing financial institutions, credit unions, retailers, ISOs and merchants in the U.S. and Canada with a full range of world-class servicing and support solutions for over 25 years. CardWorks Acquiring is a leader in providing merchant services to businesses located throughout the United States and Canada. Visit www.cardworksacquiring.com for more information about the Company and its services.
ABOUT PLANET PAYMENT
Planet Payment is a leading provider of international payment processing and multi-currency processing services. We provide our services in more than 20 countries and territories across the Asia Pacific region, North America, the Middle East, Africa and Europe, primarily through our more than 60 acquiring bank and processor customers. Our point-of-sale and e-commerce 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 www.planetpayment.com for more information about the Company and its services.
Contact: Dawn M. Thompson
CardWorks Acquiring, LLC
Contact: Marlene Greenberg
VP Corporate Communications