Planet Payment and Visa have formed an agreement to deliver a payment processing platform to acquirers and merchants worldwide.
Through the agreement Visa will offer Planet Payment’s global transaction processing platform to acquirers and merchants utilizing Visa's Accelerated Connection Platform (ACP), which provides merchants and customers with access to new payment technologies by authorizing transactions directly to Visa.
For the merchants and acquirers in Visa's ACP, the platform will support a back-end settlement service.
The agreement builds on the existing relationship between Visa and Planet Payment. The companies previously partnered on turn-key point-of-sale and ATM processing services for new Visa customers in Myanmar and on a processing service to support Visa’s project with Group Bimbo in Mexico.
