News Details

WILMINGTON, Del.--(BUSINESS WIRE)-- The Bancorp Bank ("Bancorp"), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), and Planet Payment [LSE: AIM: PPT and PPTR; OTCQX: PLPM], a leading multi-currency and data processor, today announced an agreement to provide Planet Payment's suite of products and services to Bancorp's merchants and third party servicers in the U.S. payments market.

As part of the business arrangement, Bancorp will utilize Planet Payment's leading multi-currency processing platform to provide merchants with tools to increase their sales and operate their businesses more efficiently. The individual solutions that will be made available to Bancorp customers include:

    --  Multi-Currency Pricing: Allows merchants to sell more effectively to
        international customers by pricing in foreign currencies on a website or
        in a catalogue and accepting payment in the currency the customer
        chooses;
    --  Pay in Your Currency(TM): Provides merchants with a powerful customer
        service feature that allows customers to pay for their purchases in the
        currency they know best - their own; and
    --  iPAY(R): Offers card-not-present merchants a suite of robust payment and
        business management solutions, including the industry leading iPAY
        payment gateway.

"We are excited to add Planet Payment's robust product suite to The Bancorp Bank's payment processing offering," said Frank M. Mastrangelo, President of The Bancorp Bank. "The business arrangement with Planet Payment enhances one of our core missions of providing leading-edge payment solutions to the U.S. market. Planet Payment's multi-currency processing and iPAY gateway solutions offer our customers powerful tools to increase revenue and simplify operations."

"Planet Payment, from its inception, has been dedicated to providing banks and merchants with the tools to increase efficiency, open new sales channels and maximize revenues - goals that are more important than ever in these challenging economic times," said Philip D. Beck, Chief Executive Officer of Planet Payment. "We look forward to working with The Bancorp Bank to deploy our business-building solutions throughout the U.S. market."

About The Bancorp Bank:

The Bancorp Bank, a wholly owned subsidiary of The Bancorp, Inc., is an FDIC-insured commercial bank that delivers a full array of financial services and products both directly and through private-label affinity partner programs nationwide. The Bancorp Bank's payments offering includes card issuing, card acquiring, ACH, wire transfer services and customized account structures. The Bancorp Bank maintains membership with numerous payments networks including Visa, MasterCard, Star, NYCE, PULSE and Discover.

About Planet Payment:

    --  Planet Payment's Common Shares trade in the UK on AIM under the symbols
        PPT for unrestricted Common Shares and PPTR for Reg S Common Shares and
        in the USA on the OTCQX under the symbol PLPM.
    --  Planet Payment enables processors, acquiring banks and their merchants
        to accept process and reconcile credit card transactions in multiple
        currencies, allowing cardholders to view prices and settle transactions
        in their native currency. The Pay in Your Currency(TM) service is Planet
        Payment's suite of multi-currency processing solutions, which includes a
        multi-currency pricing e-commerce service and a Dynamic Currency
        Conversion service. Planet Payment's BuyVoice(TM), a mobile payment and
        commerce solution, allows merchants to accept payments and sell product
        to customers using any mobile or landline phone. With the iPAY(TM)
        gateway, Planet Payment also offers comprehensive Internet processing
        solutions for credit card and electronic check payments.
    --  Planet Payment is headquartered in New York and has offices in Atlanta,
        Beijing, Bermuda, New Castle Delaware, London, Hong Kong, Shanghai and
        Singapore.

    Source: The Bancorp Bank

Contact: The Bancorp Bank Andres Viroslav, 215-861-7990 andres.viroslav@thebancorp.com or Planet Payment, Inc. Joel Mayer, 516-670-3200 www.planetpayment.com or ICR, Inc. (US PR for Planet Payment) Brian Prenoveau/Ashley Ammon 203-682-8200 or Redleaf Communications (UK PR for Planet Payment) Emma Kane/Samantha Robbins/Rebecca Sanders-Hewett/Henry Columbine +44 20 7566 6700 planet@redleafpr.com