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The Bancorp Bank and Planet Payment to Offer Leading-Edge Multi-Currency Solutions to U.S. Market

Relateret indhold

The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp,

Inc. (Nasdaq: TBBK), and Planet Payment [LSE: AIM: PPT and PPTR; OTCQX:

PLPM], a leading multi-currency and data processor, today announced an

agreement to provide Planet Payment’s suite of products and services to

Bancorp’s merchants and third party servicers in the U.S. payments

market.

As part of the business arrangement, Bancorp will utilize Planet

Payment’s leading multi-currency processing platform to provide

merchants with tools to increase their sales and operate their

businesses more efficiently. The individual solutions that will be made

available to Bancorp customers include:

  • Multi-Currency Pricing: Allows merchants to sell more effectively to

    international customers by pricing in foreign currencies on a website

    or in a catalogue and accepting payment in the currency the customer

    chooses;

  • Pay in Your Currency™: Provides merchants with a powerful customer

    service feature that allows customers to pay for their purchases in

    the currency they know best – their own; and

  • iPAY®: Offers card-not-present merchants a suite of robust payment and

    business management solutions, including the industry leading iPAY

    payment gateway.

“We are excited to add Planet Payment’s robust product suite to The

Bancorp Bank’s payment processing offering,” said Frank M. Mastrangelo,

President of The Bancorp Bank. “The business arrangement with Planet

Payment enhances one of our core missions of providing leading-edge

payment solutions to the U.S. market. Planet Payment’s multi-currency

processing and iPAY gateway solutions offer our customers powerful tools

to increase revenue and simplify operations.”

“Planet Payment, from its inception, has been dedicated to providing

banks and merchants with the tools to increase efficiency, open new

sales channels and maximize revenues – goals that are more important

than ever in these challenging economic times,” said Philip D. Beck,

Chief Executive Officer of Planet Payment. “We look forward to working

with The Bancorp Bank to deploy our business-building solutions

throughout the U.S. market.”

About The Bancorp Bank:

The Bancorp Bank, a wholly owned subsidiary of The Bancorp, Inc., is an

FDIC-insured commercial bank that delivers a full array of financial

services and products both directly and through private-label affinity

partner programs nationwide. The Bancorp Bank’s payments offering

includes card issuing, card acquiring, ACH, wire transfer services and

customized account structures. The Bancorp Bank maintains membership

with numerous payments networks including Visa, MasterCard, Star, NYCE,

PULSE and Discover.

About Planet Payment:

  • Planet Payment’s Common Shares trade in the UK on AIM under the

    symbols PPT for unrestricted Common Shares and PPTR for Reg S Common

    Shares and in the USA on the OTCQX under the symbol PLPM.

  • Planet Payment enables processors, acquiring banks and their merchants

    to accept process and reconcile credit card transactions in multiple

    currencies, allowing cardholders to view prices and settle

    transactions in their native currency. The Pay in Your Currency

    service is Planet Payment’s suite of multi-currency processing

    solutions, which includes a multi-currency pricing e-commerce service

    and a Dynamic Currency Conversion service. Planet Payment’s BuyVoice™,

    a mobile payment and commerce solution, allows merchants to accept

    payments and sell product to customers using any mobile or landline

    phone. With the iPAY™ gateway, Planet Payment also offers

    comprehensive Internet processing solutions for credit card and

    electronic check payments.

  • Planet Payment is headquartered in New York and has offices in

    Atlanta, Beijing, Bermuda, New Castle Delaware, London, Hong Kong,

    Shanghai and Singapore.

The Bancorp Bank

Andres Viroslav, 215-861-7990

andres.viroslav@thebancorp.com

or

Planet

Payment, Inc.

Joel Mayer, 516-670-3200

www.planetpayment.com

or

ICR,

Inc. (US PR for Planet Payment)

Brian Prenoveau/Ashley Ammon

203-682-8200

or

Redleaf

Communications (UK PR for Planet Payment)

Emma Kane/Samantha

Robbins/Rebecca Sanders-Hewett/Henry Columbine

+44 20 7566 6700

planet@redleafpr.com

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