Dynamic Currency Conversion
The solution, also known in the industry as Dynamic Currency Conversion, enables international travellers to see the amount of cash withdrawal in their home currency (view press release). At traditional ATMs, people withdrawing money in a foreign currency are not able to determine the exact final amount debited from their account until they check their account statement. Pay in Your Currency provides the option to convert at the ATM so people like tourists and business travellers can clarify their travel costs on the spot.
“This is the first implementation of Pay in Your Currency in the United States, and we expect to roll out over 5,000 Vantiv ATM locations in the next 60 days,” said Planet Payment chairman and CEO. “Together, we deliver Pay in Your Currency through retailers and restaurants at their point of sale so it was a natural extension for Vantiv to offer this convenience to their EFT processing partners.”
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