LONG BEACH, N.Y. and TAIPEI, Taiwan, Oct. 15, 2012 (GLOBE NEWSWIRE) -- Taishin International Bank Co., Ltd and Planet Payment, Inc. (LSE:PPT) (LSE:PPTR) (OTCQX:PLPM), a leading multi-currency payment and data processor, today announced the launch of Planet Payment's Pay in Your Currency® service to Taishin Bank's portfolio of merchants in Taiwan.
Pay in Your Currency can offer significant value-added benefits to Taishin merchants and their customers in Taiwan. Pay in Your Currency allows eligible international customers to be offered the choice of paying in their home currency at the point-of-sale. The customers are presented with a receipt or terminal which displays the transaction amounts in New Taiwan Dollar and their home currency, together with the exchange rate and other service details. The customer then selects their currency choice on the receipt or device. With Pay in Your Currency, international travelers can enjoy a more comfortable shopping experience by knowing what they are paying in their home currency. Simultaneously, the merchant is provided with an opportunity to reduce the processing costs incurred on these transactions.
Merchants are able to take advantage of the Taishin Bank and Planet Payment solution with ease and convenience through their standard Taishin Bank merchant account. Merchants continue to receive all funding directly from Taishin Bank in New Taiwan Dollars with the same funding schedule as their domestic transaction activity.
"We are excited to be offering Pay in Your Currency to our merchants and their international customers in Taiwan," said Amy Hsia, Head of Payment Service Division, at Taishin Bank. "Providing innovative and superior solutions to our merchants is a top priority, and we are thrilled to be partnering with Planet Payment to continue to do so."
"Planet Payment is eager to work with Taishin Bank to expand our presence in Taiwan, making Pay in Your Currency more readily available to merchants, as well as to international travelers visiting the region," said Raymond Tang, General Manger for Greater China at Planet Payment. "We believe it is a positive, value-added service for Taishin Bank, their merchants and their customers."
About Taishin FHC
Taishin Financial Holding Co., Ltd. ("Taishin FHC") was established on Feb. 18, 2002, it is the 3rd largest Private Financial Holding Company in Taiwan. Taishin FHC is a financial group with banking as its core management expertise, which offers comprehensive wealth management, retail and wholesale financial services utilizing the group resources in securities, securities investment advisory, securities investment trust, asset management, insurance brokers and financial leasing businesses. Taishin FHC has also been aggressively expanding overseas operations in Europe, Asia, China, Australia and the United States
About Planet Payment
Planet Payment is a leading provider of international payment processing and multi-currency processing services. We provide our services in 18 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, Dublin, London, Hong Kong, Mexico City, 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.