Planet Payment launches Integrated Payment System Support for Asia Pacific

Planet Payment, an international multi-currency payment and data processor, has launched a solution for integrated payment systems for the lodging, restaurant and retail sectors in the Asia Pacific Region.

Planet Payment’s integrated solution will support a number of the leading payment gateway and point-of-sale technology providers in the region including Agilysys Lodging Management System, AsiaPay, Beijing Shiji Information Technology, Chase Science Technologies, MICROS Systems, Nanjing SilverStone Computer Systems, and Servebase Computers. The service is available through a network of preeminent Pan-Asian acquiring banks working with Planet Payment including Standard Chartered Bank. Support for additional merchant acquirers located in China, Hong Kong, Macau and other major markets in Asia Pacific is anticipated in the coming months.

Historically, merchants located within the Asia Pacific region have utilized credit card terminals that run independently of the merchant’s business management systems, such as hotel property management systems or retail point-of-sale applications. As a result, in a non-integrated environment, merchants are forced to use two or more separate systems to process credit card payments, and expend resources to manually input the credit card transaction data into the business management system. Through an integrated solution, merchants can streamline their operations and process transactions through one common system, simplifying the transaction reconciliation and financial reporting process.

Planet Payment has been offering its processing services through integrated solutions for major hoteliers and retailers in the United States and Europe since 2004. To facilitate the initiative in Asia Pacific, Planet Payment has deployed a regional transaction switch, which can accept transactions from a variety of merchant point-of-sale technology providers, for onward routing to the appropriate acquirer, processor or card scheme.

Planet Payment’s approach simplifies the delivery of integrated payment solutions – through one interface, a point-of-sale technology provider has access to any one of Planet Payment’s acquirer customers, eliminating the need to perform multiple certifications to multiple banks. Additionally, by routing all transactions through one common platform, Planet Payment can deliver to merchants consolidated reporting and reconciliation of different transaction types, completed in different currencies, at various times, across multiple regions and diverse point-of-sale devices and acquirers.

Planet Payment’s transaction platform and processing systems are fully compliant with the universal card association PCI Data Security Standard and are EMV-certified, allowing Planet Payment to accept and process chip-and-pin cards issued anywhere in the world. Planet Payment supports the processing of Visa, MasterCard and JCB transactions, with support for American Express and Diners Club International expected in the fourth quarter of 2007.

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