TutorOut Goes Live With Planet Payment's UnionPay Online Payments
11 November 2013 - 10:00PM
Planet Payment, Inc. (Nasdaq:PLPM) (LSE:PPT), a leading provider of
international and multi-currency payment processing services, and
TutorOut, an online education service provider, today announced
that TutorOut is now accepting UnionPay cards on its website
through Planet Payment's UnionPay Online Payments (UPOP) solution.
Planet Payment's UPOP solution enables eCommerce merchants in
the United States and Canada to participate in UnionPay's program
to authenticate and process UnionPay cards online. UnionPay is one
of the largest card brands in the world, with over 3.5 billion
cards issued worldwide. The Chinese market is growing increasingly
important to online merchants, as China is expected to surpass the
US with the largest share of worldwide B2C ecommerce spending by
2016.1
TutorOut, a US merchant, provides Ivy League tutors as well as a
unique curriculum to Chinese students who are looking to either
study abroad or improve their English skills. As China is its
primary market, TutorOut needed a solution that would enable it to
accept UnionPay debit cards online and charge their customers in
Chinese Yuan (RMB), while still receiving payment in US Dollars
(USD).
"Our target market is China, so being able to accept UnionPay
cards online was crucial to our business," said Erik Yao, CEO at
TutorOut. "Planet Payment's UPOP solution has allowed us to more
effectively sell to our Chinese customers, by enabling us to accept
their most popular card brand and charge them in their own
currency, while still receiving payment in USD."
"We are happy to be able to provide TutorOut the tools it needs
to more effectively target its Chinese customers," said Philip
Beck, CEO at Planet Payment. "We believe it is an important tool
for merchants looking to sell to the increasingly significant
Chinese eCommerce market."
ABOUT TUTOROUT
TutorOut is an online education service provider incorporated in
the US and headquartered in Silicon Valley. We provide the highest
quality Ivy League tutors coupled with a unique curriculum to
Chinese students who are looking to either study abroad or improve
their overall English skills. Visit www.tutorout.com/en for
more information about the Company and its services.
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 22 countries and territories across the
Asia Pacific region, North America, the Middle East, Africa and
Europe, primarily through our more than 60 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.
1. eMarketer, February 5, 2013 –
Ecommerce Sales Topped $1 Trillion for First Time in 2012
(http://www.emarketer.com/Article/Ecommerce-Sales-Topped-1-Trillion-First-Time-2012/1009649)
CONTACT: Media Contacts
TutorOut
Erik Yao
Telephone: 650-539-5788
email: eyao@tutorout.com
www.tutorout.com/en
Planet Payment
Joel Mayer
Telephone: 516-670-3200
email: jmayer@planetpayment.com
www.PlanetPayment.com
UK PR Firm for Planet Payment
Redleaf Polhill
Rebecca Sander-Hewett/David Ison
Telephone: + 44.20.7382.4730
email: Planet@RedleafPR.com
US IR Firm for Planet Payment
ICR
Don Duffy / Dara Dierks
Telephone: 646.277.1212
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