Payment Alliance International and Planet Payment Announce Strategic Partnership
December 12 2012 - 10:01AM
Business Wire
Payment Alliance International (PAI), a leader in electronic
payment processing solutions and the nation’s largest Independent
ATM Deployer (IAD), and Planet Payment, Inc. (UK: LSE: AIM: PPT and
PPTR; USA: OTCQX: PLPM), a leading multi-currency payment and data
processor, today jointly announce an agreement to roll out Bank in
Your Currency™, Planet Payment’s real-time dynamic currency
conversion (DCC) solution for ATMs. This innovative program will be
integrated into PAI’s nationwide ATM network, improving the
experience for international cardholders and facilitating the
progression toward EMV or smart card transaction processing at the
ATM, in line with the industry’s move in this direction.
Bank in Your Currency provides international cardholders with
the ability to instantly view, select and manage the conversion to
their “home currency” of the U.S. dollar amount dispensed at
participating ATMs. For tourists seeking to understand vacation
costs or business travelers looking to simplify expense accounting,
Bank in Your Currency offers clarity by enabling cardholders to see
the final withdrawal amount in their home currency, rather than
waiting until their bank or issuer performs the conversion.
PAI currently manages over 60,000 retail ATM locations in the
United States and will make the Bank in Your Currency solution
available to any of its Market Partners processing ATM transactions
on its network. The currency conversion shift to the ATM creates
additional revenue opportunities on both new and existing ATM
transactions for both PAI and its Market Partners, and can drive
additional traffic to participating Bank in Your Currency ATMs from
international cardholders seeking this service.
“We’re grateful for our new relationship with Planet Payment and
are excited to be launching this state-of-the-art solution across
the PAI ATM Network,” says John J. Leehy, III, president and chief
executive officer for PAI. Leehy adds, “Payment Alliance
remains committed to helping our ATM customers make it easy for
their international travelers to access cash and settle in the
currency of their choice. With the number of visitors to the
United States growing each year, we think this program allows our
retail customers to offer another convenient shopping
advantage.”
“PAI has a great reputation as an innovator in this industry,
and Planet Payment is eager to bring Bank in Your Currency to their
nationwide fleet of ATMs and those of their partners,” said Philip
Beck, chairman and chief executive officer of Planet Payment. “We
believe this value-added service will be beneficial for PAI, their
partners and their customers.”
About Payment Alliance International (PAI)
Payment Alliance International is a leading provider of payment
processing solutions for businesses nationwide. As the nation’s
largest deployer of ATMs, PAI provides ATM processing and
maintenance services, ATM equipment sales and support, and ATM
branding programs. PAI also offers comprehensive payment and small
business solutions including credit, debit and prepaid card
acceptance services, remote deposit capture and check processing,
ecommerce solutions, ATM/email/mobile marketing, and loyalty
programs…all designed to maximize customer success and make
business easy. Payment Alliance International is based in
Louisville, Ky., with offices in West Palm Beach, Fla., Jackson,
Miss. and Billings, Mont. For more information, please visit
www.GoPAI.com or follow us on Facebook and Twitter.
About Planet Payment
Planet Payment is a leading provider of international payment
processing and multi-currency processing services. We provide our
services in 18 countries and territories across the Asia Pacific
region, North America, the Middle East, Africa and Europe,
primarily through our more than 45 acquiring bank and processor
customers. Our point-of-sale and e-commerce services help merchants
sell more goods and services to consumers, and are integrated
within the payment card transaction flow enabling our acquiring
customers to process and reconcile payment transactions in multiple
currencies, geographies and channels.
Planet Payment is headquartered in New York and has offices in
Atlanta, Beijing, Bermuda, Delaware, Dubai, Dublin, London, Hong
Kong, Mexico City, Shanghai and Singapore. Visit
www.planetpayment.com for more information on the Company and its
services. For up-to-date information follow Planet Payment on
Twitter at @PlanetPayment or join Planet Payment’s page on
Facebook.
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