This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Planet Payment Launches UnionPay Solution

LONG BEACH, N.Y., March 18, 2013 (GLOBE NEWSWIRE) -- Planet Payment, Inc. (Nasdaq:PLPM) (LSE:PPT) (LSE:PPTR), a leading international and multi-currency payment processor, today announced the launch of a solution to enable eCommerce merchants in the United States and Canada to accept UnionPay cards.

UnionPay is one of the largest card brands in the world, with over 3.5 billion cards issued worldwide. Since the majority of Chinese consumers carry UnionPay cards, in order to effectively sell to the widest possible pool of Chinese consumers, merchants need the ability to accept UnionPay cards on their websites. Planet Payment's solution does just that, by enabling merchants to participate in UPOP – UnionPay's program to authenticate and process UnionPay cards online. UPOP allows merchants to more effectively tap into what is projected to be the world's largest eCommerce market by 2015 (Forbes Magazine, May, 31, 2012).

Planet Payment integrated the UPOP into iPay, the Company's payment gateway, providing merchants with the option of creating a customized payment experience using Planet Payment's API or leveraging iPay's Hosted Payment Page for an easy-to-implement solution. Merchants can obtain UPOP directly from Planet Payment as a standalone solution, allowing merchants to gain the benefit of the UPOP solution without disrupting any of their existing processing relationships. Planet Payment will also be adding UPOP to its Shop in Your Currency service, allowing merchants to localize their offering and simplify the shopping experience by enabling Chinese consumers to view pricing and pay in RMB, while the merchant receives settlement in either United States Dollars or Canadian Dollars.

UPOP also features an SMS-based authentication system that can help merchants minimize fraudulent transactions. Once a cardholder enters their card details in the payment page, UnionPay sends a PIN Code to the cell phone that is registered to the UnionPay card. The cardholder is then prompted to enter this PIN to complete the transaction -- providing a strong form of customer authentication.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs