Planet Payment Announces Agreement with DBS Bank (Hong Kong) Limited

LONG BEACH, N.Y., June 23 /PRNewswire/ -- Planet Payment [LSE: AIM: PPTR and PPT], a leading international multi-currency payment and data processor, today announced an agreement with DBS Bank (Hong Kong) Limited to introduce Planet Payment's Pay in Your Currency(TM) and Multi-Currency Pricing services in Hong Kong and Macao. DBS is one of the largest financial services groups in Asia with operations in 16 markets. Planet Payment anticipates launching the service in Hong Kong in July, followed by a rollout in Macao at a later date.

The Pay in Your Currency service provides customers using Visa(R) or MasterCard(R) payment cards denominated in most major currencies with a real-time choice of currencies in which to complete their purchases. Tourists and business travellers will enjoy the comfort of knowing how much they are paying in their home currency, and will no longer need to wait until they return home to discover what their transactions actually cost in their home currency. The service provides merchants with a powerful marketing tool that can be used to attract more customers and drive sales by providing superior customer service and a more personalized shopping experience.

Multi-Currency Pricing allows merchants to customize their product offering to their international clientele, enabling merchants to offer customers around the world the ability to view and pay in their home currencies, across card-not-present and retail environments. Multi-Currency Pricing enhances the international customers' shopping experience by allowing them to make buying decisions in their own currency.

Commenting on the agreement, Philip Beck, Chairman and Chief Executive of Planet Payment, said: "Pay in Your Currency and Multi-Currency Pricing provide merchants with tools that simplify international commerce, by allowing customers to pay for goods and services in the currency with which they are most familiar: their own. Planet Payment is delighted to be working with DBS in the dynamic Hong Kong and Macao markets, and we look forward to working with DBS over the months and years ahead."

     Enquiries to:
     Planet Payment
     Philip D. Beck, Chief Executive Officer
     Tel: +516.670.3200
     pbeck@planetpayment.com

     Seth Asofsky, Chief Financial Officer
     Tel: +1 516 670 3200
     sasofsky@planetpayment.com

     Redleaf Communications Ltd (UK PR for Planet Payment)
     Emma Kane / Samantha Robbins / Henry Columbine / Kathryn Hurford
     Tel: +44 20 7822 0200
     Fax: +44 20 7822 0201
     planet@redleafpr.com

     ICR, Inc. (US PR for Planet Payment)
     Brian Prenoveau, CFA / Ashley Ammon MacFarlane
     Tel: +1 203 682 8200

     Canaccord Adams Ltd (Nomad for Planet Payment)
     Mark Williams
     Tel: +44 20 7050 6500

    About Planet Payment
    -- Further information on Planet Payment(R) can be found at:
       www.planetpayment.com.

    -- Planet Payment's Common shares trade on AIM under the symbols PPT for
       unrestricted Common shares and PPTR for Reg S Common shares.  All
       shares carry the same rights and privileges but PPT shares can now be
       settled through CREST.

    -- 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" service is a
       component of Planet Payment's suite of multi-currency processing
       solutions, which include a multi-currency pricing e-commerce service
       and a Dynamic Currency Conversion service. Planet Payment also recently
       launched BuyVoice(TM), a mobile payment and commerce solution, which
       allows merchants to accept payments and sell product to customers using
       any mobile or landline phone.

    -- Planet Payment is headquartered in New York and has offices in Atlanta,
       Beijing, Bermuda, Delaware, London, Hong Kong, Shanghai and Singapore.

About DBS

Headquartered in Singapore, DBS is one of the largest financial services groups in Asia with operations in 16 markets. DBS provides the full range of services in corporate, SME, consumer and wholesale banking activities across Asia and the Middle East. The bank is committed to expand its pan-Asia franchise by leveraging its growing presence in mainland China, Hong Kong and Taiwan to intermediate the increasing trade and investment flows between these markets. Likewise, DBS is focused on extending its end-to-end services to facilitate capital within fast-growing countries in Indonesia and India. More information about DBS Group Holdings and DBS Bank can be obtained from the company's website www.dbs.com.

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 processors, acquirers, merchants and others may take longer than anticipated, or may not occur at all, regulatory changes, particularly in China and changes in card association regulations and practices; general economic risk and volume of international travel and commerce and others. 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.