Toronto and Atlanta, June 29, 2012 - Global Payments Inc. [NYSE:GPN], a leader in electronic transaction payment processing, today announced the launch of HomeCurrencyPay, a dynamic currency conversion service available to Global Payments’ merchants throughout Canada.
HomeCurrencyPay, powered by Planet Payment Inc.’s Pay in Your Currency® technology, enables merchants to offer international Visa® and MasterCard® cardholders the option of paying for their purchases in their own home currency. This Global Payments solution, which supports both EMV and magnetic stripe cards, offers significant value-added benefits to Global Payments’ merchants and merchant customers.
The Global Payments HomeCurrencyPay solution provides merchants with a competitive advantage as it will allow international cardholders the choice and convenience of paying in their home currency. Customers will appreciate being more informed about their purchase since the exchange rate and final price in their home currency will be displayed before they complete their purchase and make their currency selection, as well as on the transaction receipt.
As part of Global Payments’ commitment to offer innovative processing solutions, HomeCurrencyPay will provide merchants with many benefits including seamless implementation, a fully-automated process, no related set-up or ongoing fees, default payment in Canadian dollars, with the option for instant conversion of 28 different currencies at the point of sale, and the creation of an ongoing revenue stream from merchant credits on every foreign currency transaction processed via HomeCurrencyPay.
"We are very excited to offer this dynamic currency conversion solution to our merchants in Canada,” said Jeff McGuire, vice president, product delivery & technology for Global Payments’ Canadian Operations. “With a record number of international travelers to Canada spending nearly $15 billion a year1, HomeCurrencyPay will provide merchants with the edge in capturing this highly competitive international visitor market, help merchants grow their businesses and provide a better checkout experience.”
Global Payments currently offers dynamic currency conversion services across Asia, Spain and the United Kingdom. Canada is the first North American launch of dynamic currency conversion for the company, with the United States scheduled for launch later this summer.
About Global Payments
Global Payments Inc. (NYSE: GPN) is a leading provider of electronic transaction processing services for merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, Europe and the Asia-Pacific region. Global Payments, a Fortune 1000 company, offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. Visit www.globalpaymentsinc.com for more information about the company and its services.
About Planet Payment
Planet Payment is a leading provider of international payment processing and multi-currency processing services. Planet Payment provides its services in 18 countries and territories across the Asia Pacific region, North America, the Middle East, Africa and Europe, primarily through its more than 45 acquiring bank and processor customers. Its 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 its 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.
Source: Canadian Tourism Commission - April 23, 2012