MUNICH, Germany and LONG BEACH, N.Y., Feb. 25, 2016 (GLOBE NEWSWIRE) -- PAY.ON, an ACI Worldwide company and global partner for white label payment technology, and Planet Payment, Inc. (NASDAQ:PLPM), a leading provider of international and multi-currency payment processing services, today announced the support of UnionPay eCommerce Payments through PAY.ON’s gateway. Planet Payment is the leading China UnionPay acquirer within PAY.ON’s global payment network.
China UnionPay is one of the largest card brands in the world with over 4.2 billion cards issued worldwide. Through the PAY.ON certification, merchants will now have the ability to accept UnionPay credit and PIN debit cards, and bank transfer transactions online. Planet Payment’s UnionPay solution is ideal for merchants looking to tap into the world’s largest eCommerce market. According to a report from the Chinese Ministry of Commerce, Cross-border eCommerce in China is expected to grow 30% in 2016 from a year earlier, topping $1 trillion in value.1
Michael Doron, Managing Director at PAY.ON America said, “We are excited to have Planet Payment offering an end-to-end China UnionPay acquiring and processing solution on our global platform. Chinese cardholders are an extremely important market to any online retailer, and being able to accept UnionPay is crucial to their success.”
“We are pleased to be able to support UnionPay eCommerce payments on the PAY.ON platform,” said Paul Levine, President at Planet Payment Solutions. “In addition to accepting the 4.2 billion UnionPay debit and credit cards, as well as transactions via bank transfer, our solution is multi-currency enabled, allowing merchants to price in foreign currencies like Chinese Yuan, while settling in their own. Through our partnership with PAY.ON, we’ve been able to provide merchants with easy to implement integration tools that remove the complexity of accepting payments from Chinese consumers. Also, our UnionPay SecurePay solution is a fully secure authentication payment method that effectively protects merchants against fraud-related chargebacks.
PAY.ON, an ACI Worldwide company, delivers white label global payment gateway solutions to payment service providers, ISOs, acquirers, ISVs, and VARs, enabling them to fully outsource payment transaction processing or integrate a gateway-to-gateway solution. The core payment gateway provides cross-border payment processing, PCI-compliant merchant boarding, and access to more than 300 domestic and international acquirers and alternative payment methods. Modular solutions are configured to specific business cases, with additional fraud prevention tools, monitoring and reporting, and business services. PAY.ON enables payment providers to rapidly increase international revenues, reduce costs and risk, and accelerate market expansion. PAY.ON joined ACI, the Universal Payments™ company, in 2015, creating an even more extensive portfolio of global payment solutions and services.
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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 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.
Visit www.planetpayment.com for more information about the Company and its services.
Planet Payment Contact: Jill Raftery Telephone: +1 516.941.1858 email: jraftery@PlanetPayment.com www.PlanetPayment.com PAY.ON Contact: Christopher Taine Telephone: +49 (0) 89 45230 557 email: email@example.com www.payon.com