LONG BEACH, N.Y., April 16, 2012 (GLOBE NEWSWIRE) -- Citi Philippines, the country's leading foreign bank, and Planet Payment, Inc. (LSE:PPT) (LSE:PPTR) (OTCQX:PLPM), a leading international and multi-currency payment processor, today announced an agreement to provide Planet Payment's Pay in Your Currency service to Citi's merchant partners in the country. Citi Philippines will also offer the MICROS Payment Gateway specifically to its hotel merchant partners.
Pay in Your Currency® can offer significant value-added benefits to Citi merchant partners and their customers. With Pay in Your Currency, Citibank credit cardholders and other eligible customers are offered the convenience of paying in their home currency at the point-of-sale. Customers are presented with a receipt which displays the transaction amounts in both Philippine Pesos and their home currency, together with the exchange rate and other service details. The customer then chooses their currency on the receipt. With Pay in Your Currency, international consumers can enjoy a more comfortable shopping and lodging experience by knowing what they are paying in their home currency, while simultaneously providing the merchant with an opportunity to reduce the processing costs incurred on these transactions.
Meanwhile, the MICROS Payment Gateway is a payment gateway solution designed to specifically facilitate integrated payment support for the MICROS suite of enterprise hospitality products, including MICROS OPERA, MICROS e7, MICROS 3700, MICROS 9700 and MICROS Simphony. The MICROS Payment Gateway has been integrated within Planet Payment's data center and processing platform, providing any acquirer or processing customer utilizing Planet Payment's global platform with access to this integrated MICROS solution.
"True to our commitment to provide the most convenient payment solutions to our clients in the Philippines, we are pleased to partner with Planet Payment and offer Pay in Your Currency service and the MICROS Payment Gateway to our merchants," said Bea Tan, Credit Payment Products Head at Citi Philippines. "These new services are designed to improve their operational efficiency while enhancing customer service for international travelers."
"The adoption of Planet Payment's Pay in Your Currency service has increased significantly in recent years, as more merchants around the world view the service as a way to help increase sales, customer satisfaction, and net profits," said Philip Beck, Chairman and Chief Executive Officer of Planet Payment. "We are excited to continue to expand the offering of Pay in Your Currency to the Philippines through our agreement with Citi."
About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
About Planet Payment
Planet Payment is a leading provider of international payment processing and multi-currency processing services. We provide our services in 16 countries and territories across the Asia Pacific region, North America, the Middle East, Africa and Europe, primarily through our more than 45 acquiring bank and processor customers. Our point-of-sale and e-commerce services help merchants sell more goods and services to consumers, and are integrated within the payment card transaction flow enabling our acquiring customers to process 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, London, Hong Kong, Shanghai and Singapore. Visit www.planetpayment.com for more information on the Company and its services. For up-to-date information follow Planet Payment on Twitter at @PlanetPayment or join Planet Payment's page on Facebook.