PAI, Planet Payment renew contract for direct currency conversion at ATMs

From ATMmarketplace.com

Payment Alliance International, the nation's largest privately held ATM provider, and Planet Payment Inc., a provider of international and multicurrency payment processing services, have announced a multiyear contract extension for PAI's real-time dynamic currency conversion solution for ATMs powered by Planet Payment. PAI and Planet Payment have been partners since 2012.

Dynamic Currency Conversion allows international travelers to withdraw U.S. dollars from an ATM, while seeing the amount debited from their account in their home currency.

In addition to a better cardholder experience, the solution creates extra revenue opportunities for both PAI and its market partners, a press release said.

"We are pleased to announce the extension of our contract with Planet Payment, a long-standing partner," PAI Chief Payments Officer Donna Embry said in the release. "We have had great success offering DCC on the ATMs on our network, and look forward to continue offering this value-added solution to our market partners."

"Planet Payment and PAI have had a mutually successful partnership, and we look forward to working together for many years to come," Chris Greenstein, director of U.S. sales and acquirer relations at Planet Payment, said in the release. "This contract extension will enable us to continue to provide a better service to international cardholders through PAI's network of ATMs."