Planet Launches Global Online Payment Switching and Acquiring on WAY4
Planet, the new brand for Fintrax Group, has launched on-premise, online payment switching for more than 100 partner banks in 55 countries as well as a full acquiring service on WAY4, a platform from top-ranked digital payments software vendor OpenWay.
Planet is an international payment service and technology provider, incorporating the Premier Tax Free, Planet Payment, GB TaxFree brands together with its former parent company Fintrax Group. Planet had two main objectives in migrating the online switching and merchant acquiring services to the unified WAY4 solution. Firstly, to implement a full-service acquiring platform capable of responding to the rigorous requirements of Planet’s partners and merchants, most of whom are world-famous brands. Secondly, to break its dependency on numerous third-party switching suppliers.
The project took six months from launch to setting the first merchant live. The new system is now in production, and all merchants and partners have been migrated across.
“From the technical excellence to the customer-centric approach in business analytics, project delivery and relationship management, OpenWay met our high expectations for a top-notch partner able to respond to our needs. For us, it was not only about a smooth migration or the flexibility of the platform – it was all about driving change together,” said Adrienne Murray, IT Payments, Planet.
“As a global leader in the highly competitive international payments market, Planet is very focused on growing customers and profitability. We appreciate the trust that was placed in OpenWay from the outset. We started with a fairly straight-forward project to migrate all third-party switching systems to our WAY4 platform. Planet then decided to significantly enlarge the scope of our collaboration to a full acquiring back-office, authorization and POS management solution,” commented Gennadiy Mindlin, Business Relationship Manager, OpenWay.
About Planet
Planet, the new brand for Fintrax Group, is an international payment service and technology provider that helps businesses exceed the needs of their international customers. Rebranded in 2018, Planet incorporates Premier Tax Free, Planet Payment, GB TaxFree and former parent company Fintrax Group. With over 1,000 experts across 55 countries, Planet creates better international payment and service experiences for 300,000 merchants and over 100 partner banks in five continents. Planet is also part of the Eurazeo portfolio of growth companies.