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April 24, 2009

Planet Payment to offer services to The Bancorp Bank’s merchants

iPAY payment gateway enables card-not-present merchants a suite of payment and business management services

By CBR Staff Writer

Planet Payment, a multi-currency and data processor, and The Bancorp Bank, a wholly owned subsidiary of The Bancorp, have signed an agreement to provide Planet Payment’s suite of products and services to The Bancorp’s merchants and third party servicers in the US payments market.

As part of the business arrangement, The Bancorp will utilize Planet Payment’s multi-currency processing platform to provide merchants with tools to increase their sales and operate their businesses.

According to the Planet Payment, the individual services that will be made available to The Bancorp customers include: Multi-Currency Pricing, which allows merchants to sell to international customers by pricing in foreign currencies on a website or in a catalogue and accepting payment in the currency the customer chooses; Pay in Your Currency, which provides merchants with a customer service feature that allows customers to pay for their purchases in their own currency; and iPAY, which offers card-not-present merchants a suite of payment and business management services, including the iPAY payment gateway, said to Planet Payment.

Frank Mastrangelo, president of The Bancorp Bank, said: The business arrangement with Planet Payment enhances one of our core missions of providing leading-edge payment services to the US market. Planet Payment’s multi-currency processing and iPAY gateway solutions offer our customers powerful tools to increase revenue and simplify operations.

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