Planet Payment, Inc. (PLPM), a leading provider of international and multi-currency payment processing and transaction services, today announced an agreement with Visa, Inc. (NYSE:V), to deliver a feature-rich and easy-to-deploy payment processing solution to acquirers and merchants across the globe.
In many international markets, acquirers and merchants are seeking innovative payment solutions to help drive improved business efficiency, increased sales and enhanced interaction with consumers. Visa’s Accelerated Connection Platform (ACP) provides merchants and customers with access to new payment technologies by authorizing transaction directly to Visa, one of the world's largest and most advanced financial transaction processing networks. Through this direct connection to Visa, merchants and their customers have access to an array of point-of-sale technologies, loyalty programs, and real time offer redemption.
As part of the agreement announced today, Visa will be offering Planet Payment’s global transaction processing platform to support a back-end settlement solution for acquirers and merchants utilizing Visa’s ACP. This joint initiative will deliver a quick-to-market solution that allows acquirers and merchants to enjoy the benefits that flow from ACP with minimal changes to existing processing systems.
The agreement announced today marks a significant expansion of Planet Payment’s partnership with Visa to deliver payment solutions in emerging and frontier markets across the globe. Planet Payment and Visa first partnered to deliver turn-key point-of-sale and ATM processing solutions to new Visa customers in Myanmar. Next, Visa and Planet Payment partnered to deliver a processing solution in support of Visa’s project with Group Bimbo in Mexico. This project involved Planet Payment deploying and supporting a solution for the processing of card payment and other commercial services such as mobile airtime top-up and bill payment from a single terminal device.
“Planet Payment shares Visa’s vision that payment processing is more than simply allowing merchants to accept payment for goods or services -- it is about providing tools that create new business opportunities, improve efficiency and create more convenience to consumers,” said Carl Williams, Chief Executive Officer of Planet Payment. “We look forward to working with Visa to deploy innovative payment solutions and infrastructure to drive card acceptance and deliver value-added services merchants can use to increase sales and customer satisfaction in emerging and frontier markets across the globe.”