Planet Payment and MashreqBank collaborate for Pay in Your Currency service in UAE

Providing Pay in Your Currency Service

Planet Payment, an international multi-currency payment processor, and MashreqBank, are collaborating to provide Planet Payment’s Pay in Your Currency service to Mashreq’s portfolio of merchants in the UAE (view press release). The two parties launched the service in the second quarter of this year.

Using the service, eligible customers will be able to pay in their home currency at the POS. The customers are handed a receipt or shown to an electronic terminal, which will display the transaction amounts in the UAE Dirham and their home currency, and they can select their preference. The exchange rate and other service details are also displayed on the terminal.

“The United Arab Emirates has established itself as a centre of global commerce and, as such, the merchant community in the UAE requires tools to better serve their important international clientele,” said Jonathan Ellis, MD EMEA of Planet Payment. “Pay in Your Currency is designed to improve the shopping experience for foreign customers by allowing them to pay in the currency they are most comfortable with- their own.”

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