Visitors to the UK can now use their debit and credit cards to shop in their own currency, without dodgy exchange rates and extra fees, thanks to a new initiative from Global Payments.
Called HomeCurrencyPay, the software is installed into payment terminals and activated by the seller pressing a button. 33 currencies are offered by the service, including the Euro, US, Australian and Hong Kong Dollars, Chinese Yuan, Russian Roubles and Saudi Riyals.
As well as encouraging card payments from international shoppers, Global Payments says that it rewards participating retailers by paying them commission for every payment processed in an overseas currency.
“Regardless of how many HomeCurrencyPay transactions you do, you’ll receive one simple credit on your monthly invoice for all commission earned. So you’ll gain a competitive edge at no effort or cost to you,” explains the company on its website.
Using Ripple's enterprise blockchain solutions, Standard Chartered has completed its first real-time cross-border payment for businesses with another major correspondent bank.
Three years on from being acquired by PayPal, Braintree, a company which allows merchants to process a range of different payments, has revealed the number of its payment transactions has increased by 25 times.
Fresh from its $4.5bn IPO, Nordic payments processor Nets has picked Spire as its partner to help with the physical roll out of mobile payments for Dankort customers.
Square has introduced a new update to its contactless and chip readers that reduces transaction speed to 4.2 seconds.