Standard Chartered Bank (Hong Kong) Limited to Offer Planet Payment Integrated Payment Solutions to Merchants in the Greater China Region

NEW YORK, Nov. 27 /PRNewswire/ -- Standard Chartered Bank (Hong Kong) Limited announced today an initiative to facilitate integrated payment solutions for hospitality and retail merchants located within Hong Kong, China and Macau. Planet Payment [LSE: AIM: PPTR and PPT] a leading international multi-currency payment and data processor, will be serving as the regional transaction switch to Standard Chartered in connection with the initiative.

Currently, most merchants in the Greater China Region utilise a stand- alone credit card terminal to process transactions, which operates independently from the merchant's other business management solutions, such as property management systems. Now, with Standard Chartered's solution, merchants can integrate their credit card processing functionality directly with these business management solutions. The benefits of integrated solutions may include the streamlining of business operations by allowing for easier reporting and reconciliation of card transactions and reduction of operating costs through elimination of multiple credit card terminals and supporting phone lines at the point-of-sale.

In addition to supporting the processing of domestic Visa and MasterCard transactions, the solution will also support Standard Chartered's Dynamic Currency Conversion service, powered by Planet Payment, which provides customers with the convenience and certainty of paying in their home currencies based upon a real-time conversion performed at the point-of-sale.

"Standard Chartered Bank (Hong Kong) Limited prides itself on providing merchants with a robust suite of products and services that help merchants conduct business more efficiently and effectively," said Mary Lo, General Manager, Credit Cards & Personal Loans of Standard Chartered Bank (Hong Kong) Limited. "Our merchants in the Greater China Region have consistently inquired about integrated payment capability which can create efficiencies by directly feeding credit card transaction data directly into those systems which merchants use to run their business, such as hotel property management systems. With Planet Payment as our partner, we are confident that Standard Chartered Bank (Hong Kong) Limited will be in a position to fill this current market need."

"Planet Payment's approach has always been to develop processing solutions that do more than simply process credit card transactions, but that instead help improve the way that merchants conduct business," said Philip D. Beck, Chief Executive Officer of Planet Payment. "At Planet Payment, we develop these solutions by listening to the specific business requirements of our acquiring partners and their merchants. We are excited about working with Standard Chartered Bank (Hong Kong) Limited on this initiative, which will provide a solution to those merchants in the Greater China Region that have been seeking the improved reporting and greater efficiency that flow from integrated payment capabilities."

  Media Inquiries to:

  Cathy Kwong/ Gabriel Kwan                       +852 2830 3083/
  Standard Chartered Bank (Hong Kong) Limited     +852 2820 3036

  Thomas J. DeLuca                                Office - +852.2293.2658

  Planet Group, Inc                               Mobile - +852.9303.0658

  Eliot Hoff                                      +1 212 300 1801
  APCO Worldwide

  About Standard Chartered Bank:
  Standard Chartered - leading the way in Asia, Africa and the Middle East

The history of Standard Chartered in Hong Kong dates back to 1859. It is currently one of the SAR's three note-issuing banks. Standard Chartered incorporated its Hong Kong business on 1 July 2004, and now operates as a licensed bank in Hong Kong under the name of Standard Chartered Bank (Hong Kong) Limited, a wholly owned subsidiary of Standard Chartered PLC.

Standard Chartered PLC is listed on both the London Stock Exchange and the Stock Exchange of Hong Kong and is ranked in the top 25 among FTSE-100 companies, by market capitalisation. Standard Chartered has a history of over 150 years in banking and is in many of the world's fastest growing markets. It has an extensive global network of over 1,200 branches (including subsidiaries, associates and joint ventures) in 56 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas. As one of the world's most international banks, Standard Chartered employs over 44,000 people, representing 89 nationalities, worldwide. Serving both Consumer and Wholesale Banking customers, the Bank combines deep local knowledge with global capability to offer a wide range of innovative products and services as well as award winning solutions. Standard Chartered is committed to be the Right Partner to all our stakeholders by living its values in its approach to managing its people, exceeding expectations of its customers, making a difference in the communities that we operate in and working with its regulators. The Bank is trusted across its network for its standard of governance and corporate responsibility.

About Planet Payment:

Planet Payment is the trade name for Planet Group, Inc. [LSE: AIM: PPTR and PPT for Reg S and unrestricted common shares respectively]. Further information on Planet Payment can be found at: http://www.planetpayment.com/

Planet Payment is a multi-currency payment and data processor, enabling 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. Planet Payment's systems also enable it to provide enhanced data reporting and data management to merchants who are using multiple systems in different countries.

The Planet Payment business was established in 1999. Planet Payment is headquartered in New York and has offices in Atlanta, the United Kingdom, Singapore and Hong Kong.

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 Planet Payment's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Planet Payment's business) 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. 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 merchants may take longer than anticipated, or may not occur at all. 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.