Planet Payment, a provider of multi-currency payment and data processor services and Network International (NI), a provider of the payment solutions, have entered into an agreement to provide Planet Payment's 'Pay in Your Currency' service to merchants in UAE.
The ‘Pay in Your Currency’ service will provide Network International merchants with the ability to present the end consumer with a choice of paying in the local currency or completing the purchase in their own currency at the point of sale.
Abdulla Qassem, chairman of Network International, said: “The UAE is a global destination for business and tourist travel and now with Pay in Your Currency, our merchants have an innovative way to better serve their international clientele. We look forward to being the first acquiring bank in the UAE to deploy Pay in Your Currency in partnership with Planet Payment, who we believe, offer Network International and our merchants a best-in-class product.”
Ram Chari, CEO of Network International, said: “By introducing dynamic currency conversion, Network will enable the merchants to enhance their services by letting their customers pay in their home currencies using their credit cards. Considering that UAE. is frequented by a large number of satisfied tourists every year, paying in their own currency will further enhance their comfort level when shopping in UAE.”
Philip Beck, chairman and CEO of Planet Payment, said: “The adoption of the Pay in Your Currency service has increased dramatically over recent years as more merchants around the world view the service as a powerful tool to improve sales, customer satisfaction, and net profits.”