LONG BEACH, N.Y. and DUBAI, UAE, July 20, 2011 (GLOBE NEWSWIRE) -- Network International, the largest acquirer in the United Arab Emirates and the preferred card solutions provider in the MENA Region, and Planet Payment, Inc. (LSE:PPT) (LSE:PPTR) (OTCQX:PLPM), a leading international payment processor, have announced that over 3500 merchant locations in the UAE have signed agreements to offer Pay in Your Currency, a service that allows international customers to enjoy 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.
"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, Chairman of Network International.
"We are pleased by the adoption of Pay in Your Currency among our merchant base in the United Arab Emirates. Our organization 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, powered by Planet Payment, which allows merchants to attract and close more sales from international customers, is another example of this commitment," he added.
More than 3500 merchant locations across many verticals catering to international clientele including hospitality, retail and restaurant have signed-up for the Pay in Your Currency 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."
Enquiries to:
Rashad Al Ghadban
PR Account Manager for Network International
O2 Public Relations
Tel: +971 4 3122 777
Mob: +97150 9682628
rashad.g@o2pr.net
Jonathan Ellis
Managing Director, EMEA
Planet Payment
Tel: +44 781 66 73980
jellis@planetpayment.com
Emma Kane / Henry Columbine / Luis Mackness
Redleaf Polhill (UK PR for Planet Payment)
Tel: +44 20 7566 6700
planet@redleafpr.com
Hilary Topper
HJMT Communications, LLC (U.S. PR for Planet Payment)
Tel: +1 516 997 1950
hilary@hjmt.com
About Planet Payment:
Planet Payment's Common shares trade in the UK on AIM under the symbols PPT for unrestricted Common shares and PPTR for Reg S Common shares and in the United States on the OTCQX under the symbol PLPM.
Planet Payment is a leading international payment and data processor, providing banks and their merchants with innovative solutions to accept, process and reconcile payments, anytime, anywhere and in any currency. Our customer base of more than 45 acquiring banks and processors stretches from North America, to the Middle East, to Asia Pacific, including China, Hong Kong, Macau, Taiwan, Malaysia and India.
Planet Payment is headquartered in New York and has offices in Atlanta, Beijing, Bermuda, Delaware, Dubai, London, Hong Kong, 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.
About Network International:
Established in 1994, Network International LLC is the largest acquirer, and one of the leading payment solutions providers in the Middle East, geared to meet the needs of Banks, Financial institutions and large and individual retailers. It is a Principal Member of Visa International and MasterCard International for the UAE, offering customers the most comprehensive range of payment products and services for both the Issuing and Acquiring segment of the card payment industry. Offerings include credit and debit card processing services, ATM management and monitoring, merchant acquiring plus consumer finance applications. Network International provides consultancy services ranging from planning and designing, to developing of new card and consumer finance products and services.
Network International is the first independent vendor certified by both Visa & MasterCard for card payments in the Middle East. It is the UAE's largest payment acquirer for Credit & Debit Cards and the largest third-party processing vendor offering complete EMV certified solutions as institutions migrate to EMV Smart Card technology.
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