11 okt: Mermaid Technology - Positiv ordreindgang, opjustering og organis..
14 okt: 7 Cool Fund
11-10-2010 22:21:00

Planet Payment Reports End of DCC Moratorium

Planet

Payment, Inc. (OTCQX: PLPM, LSE: AIM: PPT and PPTR), a leading

international multi-currency payment and data processor, reports that

Visa, Inc. has announced an end to its moratorium on Dynamic Currency

Conversion (“DCC”) with immediate effect.

“We believe that this positive development will facilitate our sales and

marketing efforts and entry into new markets,” commented Philip

Beck, Chairman of Planet Payment, Inc.Planet

Payment’s services help acquirers open new sales channels, merchants

sell more goods and services and cardholders enjoy informed choice and

transparency at the point-of-sale. We look forward to continuing the

growth of our business and revenues.”

As a result of this announcement, Planet

Payment’s acquirer customers are able to activate new accounts and

new merchant locations for DCC on both Visa and MasterCard in all

regions.

As discussed in previous Company

announcements, in April 2010 Visa issued new rules which limited the

addition of new DCC participants. The new rules also included additional

receipt disclosure requirements, as well as new registration and

certification programs. Visa yesterday ended the restriction on the

offering of DCC by new merchants and acquirers.

Visa also announced the immediate lifting of its long standing

restriction on DCC in Central and Eastern Europe, Middle East and Africa

(CEMEA). In Latin America, acquirers and merchants will be able to offer

the service effective 15 April 2011.

Planet

Payment’s Pay in Your Currency® DCC service provides

international Visa and MasterCard cardholders with the choice to pay in

their home currency at the point of sale. Planet Payment is now able to

offer Pay in Your Currency® on Visa transactions to new

acquirers in all regions around the world, building on its customer base

of more than 40 acquirers and processors in 16 countries stretching from

North America to the Middle East, South Africa and Asia Pacific.

Forward-Looking Statements. Information contained in this

announcement may include ‘forward-looking statements’. All statements

other than statements of historical facts included herein, including,

without limitation, those regarding the financial position, business

strategy, plans and objectives of management for future operations of

both Planet Payment and its business partners, are forward-looking

statements. Such forward-looking statements are based on a number of

assumptions regarding Planet Payment’s present and future business

strategies, and the environment in which Planet Payment expects to

operate in future, which assumptions may or may not be fulfilled in

practice. Implementation of some or all of the new services referred to

is subject to regulatory, or other third party approvals. Actual results

may vary materially from the results anticipated by these

forward-looking statements as a result of a variety of risk factors,

including the risk that implementation, adoption and offering of the

service by processors, acquirers, merchants and others may take longer

than anticipated, or may not occur at all, regulatory changes and

changes in card association regulations and practices; general economic

risk and volume of international travel and commerce and others.

Additional risks may arise with respect to commencing operations in new

countries and regions of which Planet Payment is not fully aware at this

time. See the Company’s Quarterly Reports, filed at www.otcqx.com

for other risk factors which investors should consider. These

forward-looking statements speak only as to the date of this

announcement and cannot be relied upon as a guide to future performance.

Planet Payment expressly disclaims any obligation or undertaking to

disseminate any updates or revisions to any forward-looking statements

contained in this announcement to reflect any changes in its

expectations with regard thereto or any change in events, conditions or

circumstances on which any statement is based.

About Planet Payment

®

:

Planet

Payment’s shares trade in the United States on the OTCQX under the

symbol PLPM and in the United Kingdom on AIM under the symbols PPT for

unrestricted Common shares and PPTR for Reg S Common shares.

Planet

Payment is a leading international payment and data processor,

providing banks and their merchants with innovative solutions to accept,

process and reconcile payments, anytime, anywhere and in any currency.

Our customer base of more than 40 acquiring banks and processors

stretches from North America, to the Middle East, to Asia Pacific,

including China, Hong Kong, Macau, Taiwan, Malaysia and India.

Planet Payment is headquartered in New York and has offices in Atlanta,

Beijing, Bermuda, Delaware, London, Hong Kong, Shanghai and Singapore.

Visit www.planetpayment.com

for more information on the Company and its services. For up-to-date

information follow Planet Payment on Twitter at @PlanetPayment

or join Planet

Payment’s page on Facebook.

Planet Payment, Inc.

Joel Mayer, SVP Product Management

516-670-3200

www.planetpayment.com

OR

HJMT

Communications, LLC (US PR for Planet Payment)

Hilary Topper /

Kristie Galvani / Lisa Gordon

516-997-1950

kristie@hjmt.com

OR

Redleaf

Communications Ltd (UK PR for Planet Payment)

Emma Kane /

Rebecca Sanders-Hewett / Henry Columbine

+44 20 7566 6700

planet@redleafpr.com

OR

Canaccord

Genuity Limited (UK)(Nomad for Planet Payment)

Mark

Williams and Andrew Chubb

+44 20 7050 6500

OR

Canaccord

Genuity, Inc. (US) (DAD for Planet Payment)

Andy Viles,

617-371-3900

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