NEW YORK, August 4, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on Planet Payment, Inc. (NASDAQ: PLPM). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=PLPM
Highlights from our PLPM Report include:
- New Product Launch - On July 22, 2015 Planet Payment, Inc. along with CIMB Bank, Malaysia's second largest financial services provider announced the launch of "Pay in Your Currency", Planet Payment's Dynamic Currency Conversion solution, that would be available to CIMB Bank's portfolio of merchants in Malaysia.
- Market Size on the Rise - Data available with the Malaysia Tourism Promotion Board puts the figure of inbound tourism into Malaysia at 7.09 million for the first quarter of 2014. Recent statistics point out to continued increase in the levels of international tourists visiting Malaysia, with a significant increase being driven by travelers from other Asian countries. Pay in Your Currency provides eligible international visitors using eligible Visa® and MasterCard® credit and debit cards with the choice to pay for goods and services in Malaysian Ringgit or their own currency.
- Benefits of the New System - The agreement creates additional opportunity for merchants in the dynamic Malaysian market to enjoy the benefits that flow from Pay in Your Currency. With this new solution, merchants can offer customized payment experiences and thereby attract more international customers. Another beneficial feature of Planet Payment's dynamic currency conversion solution is that it also enables merchants to reduce processing costs on foreign transactions, while continuing to receive settlement and reporting in Ringgit, with no delay in funding.
- CIMB's Take on the Personalized Pricing Solution - Vipin Kumar Agrawal, Head of Cards, Retail Assets and Deposits of CIMB Bank said that the Bank prides itself on offering customer-centric payment solutions that both its merchants and their customers will appreciate and value. He added that the Bank looks forward to work with Planet Payment to provide its merchants with Pay in Your Currency that will improve business for its merchants, while enhancing customer service for their international clientele.
- Management Speaks - Tommy Chau, MD Asia Pacific at Planet Payment said that Planet Payment was excited to work with CIMB Bank to expand acceptance of its solutions throughout Malaysia, making Pay in Your Currency available to the balance of CIMB Bank's merchants, and to international travelers visiting Malaysia. He concluded that the Company's value-added service will allow merchants to offer superior customer service and reduce the cost of acceptance, while providing international travelers with the added convenience of paying in their own currency.
To find out how this influences our rating on Planet Payment, Inc. read the full report in its entirely here: http://www.aciassociation.com/?c=PLPM
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