Planet payment offers additional services and wins over new customers

Planet Payment is a leading provider of international payment, transaction and multi-currency processing services. Focused on multi-national retail, hotel and restaurant merchants, Planet Payment achieved significant success and growth over 16 years.

Despite this longstanding success, Planet Payment began to experience difficulty recruiting new clients. Planet recognized its gateway, once cutting edge, lacked some of the competencies many of today’s global merchants need, such as far-reaching global processing capabilities, flexibility through open technology and cutting-edge tools to increase conversion rates. Thus, Planet Payment decided that to reach the next level it needed to upgrade its payments gateway technology.

The challenge

• Planet Payment’s payments gateway was static and unable to add new capabilities
• Planet Payment needed a payments gateway that enabled it to reach the next level by providing clients and prospects with cutting-edge payments technology
• Five areas where Planet rapidly needed a technological upgrade: like-for-like settlement of currencies, ability to offer global alternative payment methods, tech to take China UnionPay global, mobile capabilities and handling merchants’ PCI compliance while maintaining high conversion rates

The solution

• Planet Payment thoroughly researched the market and chose the ACI Payments Orchestration Platform solution, featuring ACI’s payments gateway
• An extensive global payments network of hundreds of alternative payment methods and acquirers globally
• A mobile solution that includes SDKs, the ability to render web shops on mobile devices and in-app capabilities

The results

• The solution allowed Planet Payment to upgrade its technological capabilities, offer additional services to existing clients and win clients it could not before
• Planet’s clients can now settle in the 100+ currencies it offers to conveniently sell nearly anywhere in the world
• Connecting to the ACI global payments network quickly transformed into a global Alternative Payment Methods leader