LONG BEACH, N.Y. and ATLANTA, May 7, 2015 (GLOBE NEWSWIRE) -- Planet Payment, Inc. (Nadaq:PLPM) a leading provider of international and multi-currency credit payment processing services, and Global Payments Inc. (NYSE:GPN), a leading worldwide provider of payment technology services, today announced a five-year extension of the parties' worldwide multi-currency processing agreement.
Under the renewed agreement, Global Payments and Planet Payment will continue their partnership to offer HomeCurrencyPay™, Global Payments' Dynamic Currency Conversion solution powered by Planet Payment, in existing markets as well as exploring expansion into several new countries. Now offered in thirteen markets across Asia Pacific and North America, HomeCurrencyPay allows international customers to enjoy a more simplified shopping and lodging experience by knowing what they are paying in their home currency, while simultaneously providing the merchant with an opportunity to reduce the processing costs incurred on these transactions.
"Global Payments is committed to delivering innovative products and services that improve the efficiency and profitability of our merchants," said David Mangum, President and Chief Operating Officer of Global Payments. "We believe our partnership with Planet Payment for HomeCurrencyPay has delivered a superior processing solution that allows our merchants to deliver enhanced customer service while reducing the cost of card acceptance."
"The agreement announced today extends the long standing partnership to deliver a superior multi-currency processing solution to Global Payments' merchants worldwide," said Carl Williams, Chairman and CEO of Planet Payment. "We believe that steadily rising levels of international travel and recently announced increases in Card Associations fees on cross border transactions are driving demand for HomeCurrencyPay. We look forward to continuing our work with Global Payments to support and expand HomeCurrencyPay."
About Global Payments
Global Payments Inc. (NYSE:GPN) is a leading worldwide provider of payment technology services that delivers innovative solutions driven by customer needs globally. Our partnerships, technologies and employee expertise enable us to provide a broad range of products and services that allow our customers to accept all payment types across a variety of distribution channels in many markets around the world.
Headquartered in Atlanta, Georgia with more than 4,300 employees worldwide, Global Payments is a Fortune 1000 Company with merchants and partners in 29 countries throughout North America, Europe, the Asia-Pacific region and Brazil. For more information about Global Payments, our Service. Driven. Commerce brand and our technologies, please visit www.globalpaymentsinc.com.
About Planet Payment
Planet Payment is a leading provider of international payment and transaction processing and multi-currency processing services. We provide our services in 23 countries and territories across the Asia Pacific region, the Americas, the Middle East, Africa and Europe, primarily through our more than 70 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. For up-to-date information follow Planet Payment on Twitter at @PlanetPayment or join Planet Payment's Facebook page.
CONTACT: Global Payments Inc. Investor contact: Jane Elliott, 770-829-8234 email@example.com or Media contact: Amy Corn, 770-829-8755 firstname.lastname@example.org Planet Payment, Inc. Joel Mayer 516-670-3200 jmayer@PlanetPayment.com www.planetpayment.com