Global Payments, a provider of electronic transaction payment processing, and Planet Payment, a multi-currency payment and data processor, have signed agreements to provide multi-currency processing services. The agreements include the offering of Global HomeCurrencyPay, a multi-currency processing solution powered by Planet Payment, to Global Payments’ base of independent sales organisation (ISO) and merchant customers in the US and Canada.
Global HomeCurrencyPay will offer value-added services to merchants, allowing their customers the flexibility to process transactions in the cardholders’ home currencies while knowing the exact purchase amounts before the statements arrive, as well as reducing processing costs for overseas card transactions. Multi-currency pricing will provide merchants the opportunity to attract more international customers with the ability to view pricing and pay in many foreign currencies.
Unlike other products, the Global Payments and Planet Payment solutions enable merchants to participate through the ease and convenience of a standard merchant account, in the merchant’s local currency. They continue to receive all funding from Global Payments in US or Canadian dollars with the same funding schedule as their domestic transaction activity, avoiding complications and funding delays.
These agreements announced today expand the current relationship between Global Payments and Planet Payment dating back to November 2007 covering the provision of the Global HomeCurrencyPay service in China, Hong Kong, Macau, Taiwan, Brunei, India, Malaysia, Singapore, Sri Lanka, the Maldives and the Philippines.
“The adoption of Planet Payment’s multi-currency processing services has increased dramatically over recent years as more merchants around the world view the services as powerful tools to help improve sales, customer satisfaction, and net profits,” said Philip Beck, chairman and chief executive officer (CEO) of Planet Payment. “As a provider of quality payment solutions to the US and Canadian business communities, we are excited to partner with Global Payments, one of the leaders and innovators in the field.”
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