Payment Alliance International and Planet Payment Announce Strategic Partnership
Nation's Largest IAD to Provide Dynamic Currency Conversion (DCC) at Retail ATM Locations
LOUISVILLE, Ky. & LONG BEACH, N.Y.--(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.
Payment Alliance International
Terri Newton, 502-671-4088
Strategic Marketing Director
Scott Goldthwaite, 516-304-9465
SVP, Product Management
UK PR for Planet Payment
Emma Kane/Henry Columbine/David Ison, +44-20-7566-6720
KEYWORDS: United States North America Kentucky New York
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