Planet brings in Redleaf for AIM

New York-based multi-currency credit card payment processor Planet Group is using Redleaf Communications for its AIM listing.

Founded by Englishman Philip Beck in 1999, the company raised £7m when it listed on Monday, reaching a market capitalisation of around  £24.3m.

Planet Group's brand Planet Payment allows consumers to make credit card payments in the currency of their choice.

Cardholders travelling abroad can view prices and settle transactions in their home currencies when making their purchases using a Visa or Mastercard.

The company is exploiting a trend towards even greater credit card use in international trade and commerce.  While the group's partners in the US account for 25 per cent of total US credit card processing volumes, the company hopes to use funds raised from the listing to further expand in the Far East.

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