3,500 sign up for 'pay in your currency' service
Dubai, July 25, 2011
More than 3,500 merchant locations in the UAE have singed deals to offer ‘pay in your currency’ service to international customers.
The agreement was annoucned by Network International, a card solutions provider in the Mena region, and Planet Payment, a leading international payment processor.
The service provides customers the convenience of paying in their home currency.
The solution operates within a merchant’s existing sales and business processes at the point-of-sale. Eligible customers are automatically presented with the transaction amounts in both UAE dirham and their home currency, together with the exchange rate information on the customer-facing terminal. The customer then selects their currency choice on the terminal and is provided with a transaction receipt listing relevant transaction information, said a statement.
“The UAE has become a significant centre for international business and leisure travel. Pay in Your Currency allows merchants herein to offer this important segment a more personalized shopping experience by enabling customers using MasterCard or Visa cards to enjoy the clarity and convenience of paying in their own currency,” said Abdulla Qassem, Network International chairman.
“Our organisation has become the largest acquirer in the Middle East by providing innovative solutions that help our merchants conduct business more efficiently and effectively. Pay in your currency, which allows merchants to attract and close more sales from international customers, is another example of this commitment,” he added.
More than 3,500 merchant locations across many verticals catering to international clientele including hospitality, retail and restaurant have signed up for the service.
“We are pleased to see the market’s reaction to our pay in your currency service in Dubai,” said Philip Beck, chairman and CEO of Planet Payment. “The continuing adoption of the service highlights the benefits to merchants and their customers, as well as our commitment to excellence in service delivery.” -TradeArabia News Service