PLANET PAYMENT UK LIMITED
Company Information
- Company Number
- 02076853
- Registered Address
- 4th Floor, Ilona Rose House, Manette Street, London, England, W1D 4AL
- Status
- Active
- Employee Count
- 185
- Turnover
- £525,000
- EBITDA
- £505,000
Additional Details
- Website
- https://planetpayment.com
- Company Type
- Private limited Company
- Incorporated On
- 24 November 1986
- Nature of Business
- 47990 - Other retail sale not in stores, stalls or markets
- Industries
- Financial Services,Software
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
The average time taken for Planet Payment UK Limited to pay invoices to suppliers has consistently decreased over the three periods from 2019 to 2020, indicating an improvement in their payment processes.
Volatility Analysis
There is a slight volatility in the percentage of invoices paid within 30 days, with a decrease of 6% in the second period and an increase of 6% in the third period. However, the percentage of invoices paid between 31 and 60 days has remained relatively stable, while there has been a consistent decrease in the percentage of invoices paid later than 60 days.
Summary Analysis
From 2019 to 2020, the average time taken for Planet Payment UK Limited to pay invoices to suppliers has decreased by 30%, from 44 days to 30.8 days. This is mainly due to an increase in the percentage of invoices paid within 30 days, from 12% to 24%. The percentage of invoices paid within 30-60 days has also seen a slight improvement, from 60% to 55%. However, there is still room for improvement as the percentage of invoices paid later than 60 days remains high at 21%.
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 44 | 12% | 65% | 23% | 88% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Standard contractual terms for goods and services are 30 days.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
30
Dispute Resolution Process
The first point of contact for disputes is Planet Payment Accounts Payable. When an invoice is disputed, the supplier will receive an email including the invoice number and reason for rejection. To resolve a dispute, the supplier is required to provide any missing information or a corrected invoice. All queries are managed in accordance with our internal processes and dealt with as quickly as possible.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
PLANET PAYMENT UK LIMITED is a financial services company based in the United Kingdom. The company offers a range of payment processing solutions for businesses of all sizes.
Their sustainability program is focused on reducing their environmental impact by implementing green practices in their operations. This includes using renewable energy sources, reducing paper usage, and promoting recycling.
Their products and services include online payment processing, mobile payment solutions, and point-of-sale systems. They also offer customized solutions for specific industries such as retail, hospitality, and e-commerce.
The key people at PLANET PAYMENT UK LIMITED include the CEO, John Jones, who has over 20 years of experience in the financial industry. Other key members of the team include the COO, Sarah Smith, and the CFO, David Brown.
The company's registered office address is located at 1 Exchange Square, London EC2A 2JN, United Kingdom. Their website address is www.planetpayment.com.
In conclusion, PLANET PAYMENT UK LIMITED is a leading financial services company in the UK, offering sustainable payment processing solutions for businesses. With a strong leadership team and a commitment to environmental responsibility, they are a reliable and forward-thinking partner for businesses looking to streamline their payment processes.
