LOUISVILLE, Ky. and LONG BEACH, N.Y., Oct. 7, 2014 (GLOBE NEWSWIRE) -- Payment Alliance International (PAI), a leader in electronic payment processing, and Planet Payment, Inc. (Nasdaq:PLPM), a leading provider of international and multi-currency payment processing services, today announced that ATM Currency Exchange, PAI's real-time dynamic currency conversion solution for ATMs powered by Planet Payment, is now live at 5,000 ATMs processing on PAI's nationwide ATM network.
ATM Currency Exchange (ACE) lets international travelers withdraw U.S. dollars from an ATM, while seeing the amount debited from their account in the currency they know best -- their own. ACE improves the ATM experience for international cardholders, allowing them to instantly view, select and better understand the conversion to their home currency of the U.S. dollar amount dispensed at PAI's participating ATMs.
In addition to a better cardholder experience, the solution creates additional revenue opportunities for both PAI and its Market Partners. The ACE program couples dynamic currency conversion with ATM EMV readiness, providing international cardholders with an enhanced service and allowing Market Partners to enjoy the security benefits that flow from EMV acceptance at the ATMs. Additionally, the new revenue that is earned from the ACE program can be used to offset the expense that Market Partners will incur as they migrate to EMV. PAI will continue to roll-out the ACE program to their network of more than 60,000 retail ATM locations it manages across the U.S.
"We are pleased to announce that we have reached a new milestone at PAI with 5,000 ATMs on our network now offering ACE capability to international cardholders," said Jason Kuhn, Director of Product Development at PAI. "The feedback from our Market Partners has been very positive and we look forward to reaching yet another milestone in the near future as we continue to rollout both the ACE solution and EMV upgrades onto our network of ATMs."
"Planet Payment is excited that PAI has reached this milestone in the deployment of the ACE program to its network of ATMs," said Drew Soinski, Managing Director of the Americas at Planet Payment. "The 5,000 PAI ATMs in the U.S. that are now offering this service are delivering a better service to international cardholders. We look forward to continuing our support of PAI in its rollout of ACE in the U.S."
Planet Payment will be attending PAI's Market Partner Conference, December 4-7 in Punta Cana, Dominican Republic, to speak to conference attendees about the potential revenue opportunities and additional value that the ACE program can bring to their business.
About Payment Alliance International
Payment Alliance International (PAI) is one of the nation's largest deployers of ATMs, provides ATM processing and maintenance services, ATM equipment sales and support, and ATM branding programs. PAI also offers comprehensive payment and small business solutions including credit, debit and prepaid card acceptance services…all designed to maximize customer success and make business easy. Payment Alliance International is based in Louisville, Ky. For more information, please visit www.GoPAI.com or follow us on Facebook and Twitter.
About Planet Payment
Planet Payment is a leading provider of international payment processing and multi-currency processing services. We provide our services in more than 23 countries and territories across the Asia Pacific region, the Americas, the Middle East, Africa and Europe, primarily through our more than 60 acquiring bank and processor customers. Our point-of-sale and e-commerce services help merchants sell more goods and services to consumers, and together with our ATM services are integrated within the payment card transaction flow enabling our acquiring customers, their merchants and consumers to shop, pay, transact and reconcile payment transactions in multiple currencies, geographies and channels.
Planet Payment is headquartered in New York and has offices in Atlanta, Beijing, Bermuda, Delaware, Dubai, Dublin, London, Hong Kong, Mexico City, Shanghai and Singapore. Visit www.planetpayment.com for more information about the Company and its services.