Payment to provide the technical capability -- called a "commerce switch'' -- to route credit card transactions to credit card processors around the world.

This will enable Internet merchants to accept credit cards online in most currencies.

The platform will initially connect to the Bank of Bermuda's new multi-currency credit card processing system.

In addition, the C&W/Planet Payment processing platform will enable banks to offer multi-currency-processing services to their merchants seeking to accept credit cards on the Internet.

"Providing multi-currency credit card payment solutions to merchants and financial institutions everywhere and enabling secure online real-time e-commerce is at the core of our company,'' said Philip Beck, chief executive officer of Planet Payment.

"Partnering with Cable & Wireless will have tremendous benefits to these new global merchants.

"We are truly excited about this venture and its positive implications for merchants and banks around the world,'' Mr. Beck added.

Andy Gray, regional manager, e-commerce for C&W's Caribbean and Atlantic Islands operations said: "C&W and Planet Payment are in a unique position to offer wholesale processing for Internet credit card transactions through the Planet Payment/C&W transaction gateway.

"Together we provide the infrastructure and services necessary to enable e-focussed companies to take full advantage of their potential, no matter what their size.'' Mr. Gray said there were other benefits too "Internet merchants worldwide can process multi-currency transactions and obtain the benefits of settling card transactions in Bermuda.''