LONG BEACH, N.Y. and BARUERI, Brazil, Feb. 29, 2016 (GLOBE NEWSWIRE) -- Cielo S.A. (BOVESPA:CIEL3.SA) (OTCQX:CIOXY), Latin America’s leader in electronic payment solutions, and Planet Payment, Inc. (NASDAQ:PLPM), a leading provider of international and multi-currency transaction services, today announced a three year contract extension of the parties’ multi-currency processing agreement.
Under the renewed agreement, Cielo and Planet Payment will continue their partnership to offer Pay in Your Currency, Planet Payment’s dynamic currency conversion solution, to Cielo’s portfolio of merchants in Brazil.
With Pay in Your Currency, Brazilian merchants can offer international visitors using an eligible VISA® or MasterCard® the choice to pay in the currency they know best – their own. In addition to providing a more personalized service to attract new customers, the solution allows merchants to improve the profitability of their businesses.
“As tourism in Brazil continues to grow, we strongly believe in the benefits of Pay in Your Currency for both our merchants and their international customers,” said Dilson Ribeiro, Vice-President of products and business development at Cielo S.A. “We are looking forward to our ongoing partnership with Planet Payment to continue the roll out of this solution to our merchants in Brazil.”
“Planet Payment is excited to extend its partnership with an industry leader like Cielo,” said Pete Ellis,SVP, the Americas, at Planet Payment. “We are eager to continue working hand in hand with Cielo to expand the Pay in Your Currency offering in Brazil, and support existing merchants in the region.”
About Cielo S.A.
Cielo S.A. (BOVESPA:CIEL3.SA) (OTCQX:CIOXY) is the leader in electronic payment solutions in Latin America, and one of the largest in the world. Responsible for merchant acquiring for payment processing in addition to other steps in the chain—capture, transmission, processing and financial settlement of transactions—Cielo captures the main labels of Brazil and the world. In 2014, over 5.6 billion transactions were made through the company's POS terminals.
With a multi-service, multi-label and multichannel approach—with a point-of-sale, mobile, or e-commerce presence—Cielo's mission is to become an international benchmark. A service company that has innovation in its DNA and is results-oriented, Cielo delivers a portfolio of products and solutions that add value to the business of merchants, small entrepreneurs and autonomous professionals, in addition to having the largest sales force in the market, high quality customer service, and efficient logistics, which are all premises of excellence for the customer. The company continually invests in technology and has cutting edge equipment, distributed in 1.7 million active POS Merchants in all channels—brick-and-mortar and online stores, POS terminal, mobile phone or by internet—present from end-to-end across the entire chain of electronic payments.
About Planet Payment
Planet Payment is a leading provider of international payment and transaction processing and multi-currency processing services. We provide our services in 21 countries and territories across the Asia Pacific region, the Americas, the Middle East, Africa and Europe, primarily through our more than 70 acquiring bank and processor customers. Our point-of-sale and e-commerce services help merchants sell more goods and services to consumers, and together with our ATM services are integrated within the payment card transaction flow enabling our acquiring customers, their merchants and consumers to shop, pay, transact and reconcile payment transactions in multiple currencies, geographies and channels.
Planet Payment is headquartered in New York and has offices in Atlanta, Beijing, Bermuda, Delaware, Dubai, Dublin, London, Hong Kong, Mexico City, Shanghai and Singapore. Visit www.planetpayment.com for more information about the Company and its services. For up-to-date information follow Planet Payment on Twitter at @PlanetPayment or join Planet Payment’s Facebook page.