VAN NUYS, Calif. and LONG BEACH, N.Y., Oct. 13, 2014 (GLOBE NEWSWIRE) -- Planet Payment, Inc. (Nasdaq:PLPM), a leading provider of international and multi-currency payment processing and transaction services, and International Checkout, a leading provider of global eCommerce Solutions, today announced the launch of AsiaCheckout with UnionPay International, a leading bankcard association. AsiaCheckout is an online marketplace where U.S. merchants can offer and sell their goods to Chinese consumers.
With eCommerce sales in China continuing to rise, International Checkout and Planet Payment recognized a need in the market that wasn't being met – a marketplace comprised of U.S. brand retailers, selling their authentic products directly to Chinese consumers. Chinese online retail sales totaled $296 billion in 2013, 13% more than U.S. online retail sales.1 This represents an opportunity for significant expansion into what has become the world's largest eCommerce market. However there are also significant obstacles that can be difficult for U.S. merchants to navigate. For example, it can be a daunting task for U.S. merchants to effectively market to and attract Chinese consumers. Upgrading their payment processing to accept local payment types, as well as handling the logistics of shipping and customs, can also prove overwhelming.
Long term partners Planet Payment and International Checkout saw this as an opportunity to serve both existing and new customers and partners by creating a marketplace for U.S. brand e-tailers, www.asiacheckout.com. UnionPay International markets AsiaCheckout to their cardholders through their website, http://haigou.unionpay.com ("shop the world"). Once a Chinese consumer is directed to AsiaCheckout.com, they shop and purchase directly from the U.S. brand retailer, minimizing the risk of counterfeiting and addressing a major concern on the part of Chinese consumers purchasing Western brands in China.
Chinese consumers shopping on AsiaCheckout also enjoy the convenience of paying for their purchases using their preferred payment method. AsiaCheckout features Planet Payment's UnionPay Online Payment solution which allows Chinese consumers to use their UnionPay debit or credit card or e-bank transfer, and to shop and pay in their own currency at checkout. AsiaCheckout's Chinese language site makes the checkout process easier for consumers and both Mandarin and Cantonese speaking customer service agents will also be available to answer customer questions about their order.
AsiaCheckout takes the complexity out of delivering goods to China. E-tailers leverage International Checkout's extensive logistics network by simply shipping the merchandise to AsiaCheckout's facility in Van Nuys, CA. AsiaCheckout pays the e-tailer in US dollars, then handles the delivery of the goods on to the end purchaser, taking care of all customs and clearance procedures. Consumers have the option to pre-pay the fully landed cost. All returns are processed and handled by AsiaCheckout as well.
"We are thrilled to be partnering with Planet Payment to launch AsiaCheckout," said Kathy Beteta, EVP at International Checkout. "As a company that specializes in offering global eCommerce solutions, we believe AsiaCheckout answers a need in the international marketplace which is not currently being met. U.S. merchants need a stream-lined, cost-effective method for expansion into China, and this solution provides that easy access to the world's largest eCommerce market."
"Planet Payment is excited to launch AsiaCheckout with our long-time partner International Checkout," said Paul Levine, President, Planet Payment Solutions. "We believe that there is tremendous value for U.S. merchants being able to reach Chinese online shoppers and AsiaCheckout provides them with all the necessary tools to do so."
AsiaCheckout hand-picked a number of prestigious brands to be part of the launch on October 13th, 2014, including Dr. Martens, an iconic footwear brand. "Our goal is to make shopping from our online store as convenient as possible for all our customers, and AsiaCheckout allows us to provide seamless checkout for Chinese consumers in their local payment type, in addition to offering customer service in Mandarin and Cantonese," said Kristi Wirebaugh, E-Commerce Manager at Dr. Martens. "Dr. Martens is a well-known brand worldwide and we are eager to start actively marketing to the Chinese market with the help of AsiaCheckout." U.S. Merchants can apply to participate on AsiaCheckout by visiting www.asiacheckoutsolutions.com and completing the questionnaire on the Contact Us Page.
About International Checkout
Since 2003, International Checkout (IC) has been the must have global ecommerce solution for U.S. brands and retailers. By eliminating the risks and hurdles associated with international payment and fulfillment, IC enables its clients to gain access to the quickly growing world market with ease. Via a simple connection to IC's management system, e-tailers enable international shoppers to enjoy a first class localized shopping experience while maintaining brand integrity. For more information on International Checkout visit http://internationalcheckoutsolutions.com/.
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 23 countries and territories across the Asia Pacific region, the Americas, 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.