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Integrated Card Exchange and Peoples Trust to Launch Solution for the Canadian Market

Posted on: Thursday, 16 April 2009, 07:30 CDT

NEW YORK and VANCOUVER, April 16 /PRNewswire-FirstCall/ -- Integrated Card Exchange (ICE), an affiliate of CardWorks, Inc., and Peoples Trust, a leading provider of financial services in Canada, announced an agreement to launch a comprehensive processing solution for the Canadian market. The solution, powered by Planet Payment (LSE: AIM: PPT and PPTR; Pink Sheets: PLPM), a leading multi-currency and data processor, will be launched in mid April 2009.

The turnkey solution will provide Canadian merchants with a comprehensive suite of business-building tools designed to improve merchant efficiency and profitability. The solution includes full domestic processing support for Visa(R) and MasterCard(R) including chip and pin, American Express(R), JCB, and Interac(R) debit card transactions. Additionally, merchants will have access to Planet Payment's Pay in Your Currency(TM) and Multi-Currency Pricing services, driving additional sales opportunities and improving profitability by enabling customers to view pricing and pay in their home currencies.

Integrated Card Exchange will offer the solution directly to Canadian merchants and Independent Sales Organizations ("ISO") as well as through US-based ISOs that are interested in processing solutions for merchants located in Canada.

Commenting on the agreement, Gerry Serratore, Vice President Marketing of Peoples Trust, said:

"Peoples Trust has become a leading provider of financial services in Canada by identifying market needs and developing solutions that fulfill those needs. The arrangement announced today is just another example of Peoples Trust fulfilling our mission to deliver innovative products to the Canadian Market. We believe the "PAY IN YOUR OWN CURRENCY" feature, which is a first for Canada, will assist merchants by increasing credit card sales during these challenging economic times."

Matt Berman, Managing Director of Integrated Card Exchange, said:

"Integrated Card Exchange has relationships with numerous Independent Sales Organizations in Canada and in the U.S. seeking solutions for merchants located in Canada. We believe that our selection of Planet Payment, which has a proven history of providing superior credit card processing solutions to banks and merchants internationally, and Peoples Trust, a leading Canadian provider of financial services, will allow Integrated Card Exchange to offer a powerful solution perfectly tailored to the needs of the Canadian marketplace."

Commenting on the arrangement, Philip D. Beck, Chief Executive Officer of Planet Payment, said:

"Planet Payment is excited to be entering the Canadian market with Integrated Card Exchange and Peoples Trust. Our comprehensive solutions will provide Canadian merchants with all of their credit card processing needs - from domestic Canadian Dollar and Interac debit processing to Pay in Your Currency and Multi-Currency pricing for those merchants that are seeking to attract and close more international sales - all through one provider."

ISOs or merchants that are interested in learning more about the Canadian solutions announced today should contact Matt Berman, Managing Director of Integrated Card Exchange at 516-576-0404 ext.2803 or via email at matt.berman@cardworks.com or Pauline Clark, Planet Payment's General Manager for Canada at +905.632.0095 or via email at pclark@planetpayment.com.

About Peoples Trust Company:

Peoples Trust has become a very successful provider of financial services by combining price competitive products with truly exceptional customer service and support. They maintain a unique and enviable position among Canada's financial institutions as a result of long-term profitability, steady asset growth and the ability to perform above and beyond customers' expectations. Peoples Trust is headquartered in Vancouver, British Columbia, Canada.

About Integrated Card Exchange:

Integrated Card Exchange (ICE) is a registered ISO of Peoples Trust and is an affiliate of CardWorks, Inc. ("CardWorks"). CardWorks is also the parent company of CardWorks Servicing, CardWorks Processing, CardWorks Acquiring, and Merrick Bank. CardWorks provides merchant and card issuing services for financial institutions and ISOs that enable them to economically pursue their own goals and objectives. The services CardWorks provides are transparent to cardholders or merchants, with specifications driven by each individual organization's needs.

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(TM) 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(TM), 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(TM) 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.

www.planetpayment.com

SOURCE Planet Payment, Inc.

Source: PR Newswire

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