DUBAI, UAE and LONG BEACH, N.Y., May 08, 2017 (GLOBE NEWSWIRE) -- Network International, the leading payments solution provider in the Middle East and Africa, and Planet Payment, Inc. (NASDAQ:PLPM), a leading international and multi-currency payment processor, today announced the extension of their multi-year agreement, which will mark ten years of partnership. The Companies also announced that the Pay in Your Currency® product is deployed at over 22,000 merchants in the UAE.
Pay in Your Currency provides Network International merchants with the ability to offer eligible international customers the convenience of paying for their purchases in their own currency. With this personalized payment solution, merchants still receive funding and settlement in UAE Dirham, while allowing them to improve customer service and increase profitability.
Pay in Your Currency is an ideal solution catering to the influx of tourists attracted to the UAE annually. According to the World Travel and Tourism Council, international tourist arrivals in the UAE are forecast to total 30,938,000 by 2026, generating over four billion US Dollars.1
“Network International and Planet Payment have successfully worked together since 2010, and we are pleased to be extending our contract to continue offering Pay in Your Currency in the UAE,” said Simon Haslam, Group CEO of Network International. “We have seen proven success with this solution, and are thrilled that over 22,000 merchants are now live and offering their international customers the choice to pay in their own currency.”
“Planet Payment is happy to extend our long-standing partnership with Network International,” said Carl J. Williams, Chief Executive Officer at Planet Payment. “Pay in Your Currency is an optimal solution for merchants in the UAE, where Network International merchants can offer the increasing number of tourists the opportunity to pay in the currency they know best – their own.”
About Network International
Established in 1994, Network International LLC is the largest acquirer in the UAE, and a leading payment solutions provider in the Middle East and Africa region (MEA), servicing more than 70,000 merchants and 200 financial institutions across 70+ countries. The company’s service offering comprises a comprehensive range of payment products and services for both the Issuing and Acquiring segments of banks, financial institutions and retail merchants including end-to-end consultancy ranging from planning and designing to developing of new card and consumer finance products and services. In addition, the company offers several value-add products including data analytics, scoring and loyalty solutions. Network International has Operation centers in the UAE, Egypt, Jordan, South Africa and India, with its corporate head office in Dubai. The company recently acquired Emerging Markets Payments Holdings Limited (EMPH) and continues to invest in strategic partnerships that will increasingly see its influence spread across the region.
As the first independent vendor certified by both Visa & MasterCard for card payments in the Middle East, Network International is a Principal Member of Visa International and MasterCard International in the UAE and enjoys extension of its MasterCard License in other key countries. It is also a member of JCB and Union Pay card schemes, and it owns and manages the Diners Club International Franchise in the UAE, Egypt, Lebanon and Jordan. The company also launched a GCC-based domestic scheme, Mercury, and partnered with Discover Financial Services (DFS) to allow global acceptance of Mercury cards on the Discover, Diners Club International and PULSE networks. Network International is a Payment Card Industry Data Security Standard (PCI DSS) certified company.
About Planet Payment
Planet Payment (NASDAQ:PLPM) is a leading provider of international payment and transaction processing and multi-currency processing services. Planet Payment provides services in 23 countries and territories across the Asia Pacific region, the Americas, the Middle East, Africa and Europe, primarily through our 70+ acquiring bank and processor customers. The Company’s point-of-sale and e-commerce services help merchants sell more goods and services to consumers, and together with ATM services, are integrated within the payment card transaction flow enabling acquiring customers, their merchants and consumers to shop, pay, transact and reconcile payment transactions in multiple currencies, geographies and channels.