planet payment which uses authorize.net exclusively has signed some (Pleezeee excuse me) INTERNATIONAL deals....one in china back in jan and here is news item about a big recent deal in Korea
Planet Payment And Daewoo Sign Exclusive Agreement To Provide Worldwide Multi-Currency e-Commerce Payment Solutions For Korean Merchants
Korea?s Projected e-Commerce Revenues Will Top $1Billion by Year-End 2000
NEW YORK, March 2, 2000 -- Planet Payment (www.planetpayment.com) and Korea?s largest trading company, Daewoo (www.daewoo.dwc.co.kr) today announced an exclusive agreement to offer one-stop e-commerce payment solutions and services to Korea?s robust global-focused business sector.
Daewoo will now be the exclusive company to offer Planet Payment?s e-commerce solutions to businesses in Korea looking to conduct activity on a worldwide basis. Through this arrangement Korean merchants will go online to set up their e-business websites and accept online multi-currency credit card payments in real-time through Planet Payment?s multi-currency gateway.
According to eMarketer, an international research firm, 1999 e-commerce revenues in Korea reached $352 million, a 300% increase from $88 million in 1998. This dramatic rise in revenue figures was due in part to large marketing campaigns and an overwhelming acceptance of online business by the Korean public. By year-end 2000, e-commerce in Korea will surpass $1 billion.
According to a survey conducted by the Korea Information Culture Center, 87% of Korean internet users have visited internet shopping malls, and 52% of those people have made purchases online. This figure is very high, especially when compared to that of the United States, where 58% of those who shopped online made a purchase.
Chinsok Kim, a counsel for Daewoo International (America) Corp. says, ?We have expanded our business to include international finance, resource development, domestic and overseas investment and project management on the basis of our expertise and experience in gathering information and organizing in international trade. And now the expansion of e-commerce we are committed to providing Korean businesses with the very best infrastructure so they can best expand their overseas opportunities.?
This agreement with Daewoo is a significant step in Planet Payment's stated strategy to become the global leader in providing multi-currency credit card payment solutions to merchants and financial institutions. "Planet Payment recognizes the enormous opportunities for e-commerce in Asia and has already developed strong relationships in Japan, Hong Kong, and China,? says Philip Beck, Chief Executive Officer of Planet Payment. Partnering with Daewoo ? the leading company in Korea ? further solidifies Planet Payment?s position in the Asian marketplace and enables us to uniquely provide internationally-minded Asian companies with sophisticated e-businesses solutions and services on a global basis."
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About Daewoo
Daewoo (www.daewoo.dwc. co.kr) is Korea?s leading general trading company. Daewoo Corporation reached a new export high of $17.6 billion in 1998 and it plans to maximize it overseas network in the coming years. Daewoo Corporation started back in 1967 as a small textile exporter and has evolved into a leading multinational General Trading Company. The company exports a variety of products such as steel, metal, nonferrous-metal, automotive components, machinery, industrial plants, electronics, textiles and chemicals to over 165 countries around the world.
About Planet Payment
Planet Payment (www.planetpayment.com) provides e-businesses - anywhere - with the ability to accept credit cards online, in real-time, in almost any currency. To get up and running, e-businesses need a credit card merchant account and secure payment gateway. To maximize the global opportunity presented by e-commerce, merchants will need to accept payments in multiple currencies. Planet Payment's affordable solution enables Internet merchants to accept Visa©, MasterCard©, and American Express© credit cards and is compatible with most shopping cart technologies using its state-of-the-art payment gateway powered by Authorize.Net (www.authorize.net).
January 17, 2000
Planet Payment, the first mover of providing secure payment solution to China Internet Market, wins the heart of ?MeetChina.com"
By Elena Jiang, Silicon Valley Journal
Planet Payment (www.planetpayment.com), an Internet payment solution provider based in New York, and MeetChina.com (www.MeetChina.com) announced an agreement in winter of 1999 whereby MeetChina.com will offer Planet Payment?s global e-commerce payment solutions to China?s burgeoning e-businesses. Planet Payment and MeetChina.com can now offer one-stop-e-commerce services to businesses reaching out to global markets. Chinese merchants can go online to set up their e-business website and accept multi-currency credit card payments online, in real time, through Planet Payment?s gateway.
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Good Long-term Future
Planet Payment provides one-stop Internet payment solutions, including credit card merchant accounts and payment gateway services. Through the buy page, Planet Payment transfers the credit card information of cardholders to the credit card associations for payment authorization. Planet Payment then clears funds from the card issuing bank and has the transaction settled in a major currency of the merchant?s choice.
Planet Payment?s payment gateway is powered by Authorize.net, which is the most reliable gateway service provider in the United States.
?Our partnership with MeetChina.com will help speed the growth of e-commerce in China, a country with an already remarkable reputation for trade?. Says Philip Beck, Chief Executive Office of Planet Payment. ?Planet Payment fits into the range of services MeetChina.com offers Chinese businesses, giving companies the ability to sell direct to overseas buyers through the Internet? stated by Tom Rosenthal, President of MeetChina.com.
When this reporter asked how Planet Payment assesses the Chinese credit card market, Dr. Mitch Leventhal, Vice President of Strategic Planning at Planet Payment indicated that though credit cards are not widely used in China now, there?s a great market in the near future. Rather then just concentrating on current opportunities, Planet Payment is focused on China?s long-term market potential.
**The first step into the China Market
?The Chinese banking system and financial market are far behind international standards, which means there is a huge growing space. Rather than setting up our own China-based company, we believe strong partnerships are the most efficient way to develop the Chinese market for Planet Payment.? Said Dr. Leventhal.
Regarding why selected MeetChina as a Planet payment?s partner, Dr. Leventhal indicated that MeetChina?s e-commerce portal, co-produced by MeetChina.com and the Electronic Information Center of China?s Ministry of Information Industry (MII), is China?s largest cross-border trade site. As China?s only wholly-owned foreign enterprise licensed to conduct business on the Internet, MeetChina.com has been designated China?s official online gateway to international business. MeetChina?s position is so important and special that Planet payment was pleased to work with MeetChina as its first step to China?s e-commerce market.
?The Internet is growing fast. However, change in China is more rapid than anywhere else in the world.? Dr. Leventhal said. ?Cooperation with one company is not enough. Cooperation between a number of big Chinese Internet companies and Planet Payment is also under discussion.?
Established more than a year ago, Planet Payment is growing extremely rapidly. By the end of 1999, their service has covered 85 countries with choices of 19 currencies. Their business goal in 2000 is to provide Internet transaction service with more than 100 currencies in more than 100 countries. They will target a global wide customer base and plan to increase their merchants to 100,000 in two years. The number of subscribed merchants is doubling every month.
Dr. Leventhal is confident of the future of China and the company: ?The WTO agreement combined with enthusiastic support on import-export from Chinese government is the fundamental basis for our business development in China. I believe in China and have a bullish about its future.? |
