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TheStreet Open House

Planet Payment Announces Network International Contract Extension

Stocks in this article: PLPMPPT

LONG BEACH, N.Y., Nov. 11, 2013 (GLOBE NEWSWIRE) -- Planet Payment, Inc. (Nasdaq:PLPM) (LSE:AIM: PPT), a leading provider of international payment and transaction processing and multi-currency processing services, today announced a multi-year contract extension with Network International, LLC, the largest acquirer in the Middle East and North Africa and the preferred card solutions provider in the United Arab Emirates.

Network International has been offering Planet Payment's Pay in Your Currency® Service in the UAE since 2010. With Pay in Your Currency, international customers can enjoy a more comfortable 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. The solution is designed to facilitate international commerce and provide merchants with innovative ways to sell more products and services and drive customer satisfaction.

Jonathan Ellis, Managing Director of EMEA and the UK at Planet Payment said: "We believe that the extension of our agreement with Network International is a testament to the strength of our product offering and commitment to service excellence. Our solutions allow merchants to provide an enhanced customer service and increase the profitability of their business and we look forward to continuing to work with Network International to deliver Pay in Your Currency to the dynamic UAE market."

About Planet Payment

Planet Payment is a leading provider of international payment processing and multi-currency processing services. We provide our services in more than 20 countries and territories across the Asia Pacific region, North America, the Middle East, Africa and Europe, primarily through our more than 60 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.

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