June 25, 2002
Shift4 and Planet Payment Join Forces To Provide Multi-Currency Credit Card Processing
Las Vegas, NV, June 25, 2002 – Shift4, a developer of financial transaction processing software, announced today an agreement with Planet Payment, an innovative provider of multi-currency credit card processing solutions, to provide unique multi-currency and international payment processing products and services for merchants worldwide. Under the agreement, Shift4 will introduce the Planet Payment Point of Sale Currency Conversion Program™ to Shift4’s merchants and to develop and market a complete multi-currency solution — including local debit and credit cards — for multi-national merchants.
Now, Shift4’s merchants and technology partners will be able to participate in the Planet Payment Point of Sale Currency Conversion Program. The Planet Payment Program allows American merchants and acquirers to earn additional revenue on existing transactions while providing a valuable service to a merchant’s international clientele. Customers from Canada, the United Kingdom, Japan, Australia and the Euro-zone countries will be able to pay in their local currency at Shift4’s merchants with their Visa® or MasterCard® — while the merchant gets paid the full amount of the transaction in US Dollars as it does today. Powered by Planet Payment, transactions are converted from US Dollars into the cardholders’ local currencies based upon an exchange rate that is competitive to that which is used by the card associations and issuing banks, as well as other payment methods popular for international travel and purchases.
Planet Payment and Shift4 will develop the necessary technical interfaces to provide local debit and credit solutions in foreign markets. Ultimately, international merchants and acquirers will be able to benefit from the Planet Payment Point of Sale Currency Conversion Program and Shift4’s unique financial transaction processing software services.
“Over the years many of our merchants and technology partners have inquired about currency conversion for their customers at the point of sale. Now, through Planet Payment, we can finally offer our partners the solution they’ve always wanted. We are very excited about forming this new relationship. Planet Payment recognized the need within the US for foreign exchange services at the point of sale. Working together, we will be able to expand our collective products and processing services to a broader marketplace outside the US. Planet Payment is clearly the leader in this field, and we believe these initiatives will be a real home run.” — J. David Oder, President and CEO — Shift4
“Shift4 is a progressive leader in the marketplace and we are proud to be working together. We believe the future of customer interaction at the point of sale is to provide a unique and personalized experience, creating a truly international Point of Service — meaning the ability to pay in the currency of your choice, while allowing merchants to get paid in the currency of their choice. Shift4 has the software solutions and technical ability to make this a global reality.” — Philip Beck, CEO — Planet Payment
About Shift4 Corporation
Shift4 is a developer and provider of financial transaction processing software and services with a merchant centric focus. Shift4 was incorporated in 1994 and has a diverse customer base of merchants from many industries including retail, food and beverage, hospitality, MOTO, eCommerce, medical and auto rental. Some of Shift4’s processing and financial partners include Vital Processing Services, Global Payment Services, NDC Canada, First Data Corporation, American Express, Paymentech, Chase Merchant Services, Bank of America, and First Horizon Merchant Services. Interface partners include InfoGenesis, Micros/Fidelio, Aloha, SpaSoft, Positouch, Galaxy, Squirrel, Springer-Miller Systems, InnQuest, Able Commerce and numerous others. Shift4’s products include $$$ IN THE BANK® NetEnterprise™ and DOLLARS ON THE NET®. More information about Shift4 can be found on their web site at www.shift4.com.
About Planet Payment
Founded in January 1999, and headquartered in NY, Planet Payment™ provides multi-currency payment solutions enabling merchants and cardholders worldwide to complete credit card transactions in the currency of choice for both parties. For more information contact Tom DeLuca or James Moore at Planet Payment 516-670-3200 by email at firstname.lastname@example.org or email@example.com or visit www.planetpayment.com