Planet Payment, a multi-currency payment processor, and MashreqBank, a United Arab Emirates (UAE) financial institution, have launched Planet Payment’s Pay in Your Currency service to Mashreq’s portfolio of merchants in the country.
With Pay in Your Currency, eligible customers are offered the convenience of paying in their home currency at the point-of-sale (POS). The customers are handed a receipt, or pointed to an electronic terminal, which show the transaction amounts in the UAE dirham and their home currency, together with the exchange rate and other service details. The customer then makes their currency choice on the receipt or device.
“Mashreq is focused on providing payment solutions that allow our merchant customers to operate their businesses more efficiently and profitably,” said Nimish Dwivedi, head of payments at Mashreq. “We are excited to offer Planet Payment’s Pay in Your Currency service which delivers positive benefits to our merchants and their international customers.”
“The UAE has established itself as a centre of global commerce and, as such, the merchant community in the UAE requires tools to better serve their important international clientele,” said Jonathan Ellis, managing director Europe, Middle East and Africa (EMEA) of Planet Payment. “Pay in Your Currency is designed to improve the shopping experience for foreign customers by allowing them to pay in the currency they are most comfortable with – their own.”
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