MEXICO CITY and LONG BEACH, N.Y., Nov. 18, 2015 (GLOBE NEWSWIRE) -- BBVA Bancomer, the largest financial institution in Mexico, and Planet Payment, Inc. (NASDAQ:PLPM), a leading provider of international and multi-currency payment processing services, today announced the signing of a multi-currency processing agreement and the launch of Planet Payment’s integrated payments hospitality solution for BBVA Bancomer merchants.
Planet Payment’s integrated payment solution supports the Oracle Hospitality / MICROS suite of hospitality products, including OPERA, 3700, 9700 and Simphony POS systems. This payment solution allows hotels to streamline their back-office reconciliation process by creating a single solution integrating the hotel’s payment processing with their property management system. It provides enhanced security and fraud features, including encryption and transaction tokenization, to help ease merchant’s PCI burden. Planet Payment is a Gold-level member of the Oracle Partner Network (OPN).
As part of the agreement, Planet Payment’s Dynamic Currency Conversion (DCC) service, Pay in Your Currency®, will also be integrated into the hospitality solution, as well as BBVA Bancomer’s point-of-sale terminals in 2016. Pay in Your Currency offers international guests the choice to pay in the currency they know best – their own, while the merchant continues to receive funds in Mexican Pesos.
"Our partnership with Planet Payment enables BBVA Bancomer to enhance our current merchant services offering in Mexico with powerful new products,” said Ing. Alejandro Pineda Mosiño, Corporate Director of Credit and Payments Solutions at BBVA Bancomer. “These solutions allow our merchants to offer enhanced service to their guests and benefit from more streamlined payment processes.”
“We are thrilled to be working with Bancomer to further our presence in Mexico,” said Seth Asofsky, Senior Vice President, Sales Operations, Americas at Planet Payment. “We offer a best-in-class payment processing and reconciliation solution for the hospitality market.”
About BBVA Bancomer
BBVA Bancomer is a leading institution in Mexico in terms of portfolio and deposits. Its business model is based on the customer as the center of business and leveraged on continuous innovation, and the best technology allows you to provide banking services to 18.3 million customers. To provide better customer service, it has the most extensive banking infrastructure composed of 1,824 branches, 10,169 ATMs and 221,396 POS terminal systems. Continued investment in alternative channels to the branch has allowed fast, easy and secure access to financial services through logging operations Bancomer.com 2.5 million customers, Mobile Banking and Mobile Money Account Express, among others. Additionally, through banking correspondents, it has managed to increase the hours and points of sale in more than 27,741 stores and retail partners as of May 2015. Meanwhile, corporate social responsibility is a constant in the banking business and through BBVA Bancomer Foundation education, culture and environmental protection is promoted. Follow us on Twitter: @BancomerPrensa.
About Planet Payment
Planet Payment is a leading provider of international payment processing and multi-currency processing services. We provide our services in 23 countries and territories across the Asia Pacific region, North America, the Middle East, Africa and Europe, primarily through our 70 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.