Pay in their home currency at the point-of-sale
Citibank and Planet Payment, a multi-currency payment processor, are entering an agreement to provide Planet Payment’s Pay in Your Currency service to Citibank’s merchants in Hong Kong and Macau (view press release). Pay in Your Currency enables Citibank merchants and their customers to pay in their home currency at the point-of-sale. Customers are presented with a receipt or a terminal device presenting the transaction amount in the merchant’s local currency (Hong Kong Dollars or Macau Pataca), the customer’s home currency and the exchange rate. They then make their currency choice through the receipt or device and the transaction is processed. Merchants continue to receive all funding directly from Citibank in Hong Kong Dollars or Macau Pataca with the same funding schedule as their domestic transaction activity.
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