Long Beach, NY and Mexico City, Mexico – May 5, 2016 – Grupo Financiero Banorte, one of the main financial institutions in Mexico, and Planet Payment, Inc. (NASDAQ:PLPM), a leading international and multi-currency payment processor, today announced the launch of Planet Payment’s dynamic currency conversion solution, Pay in Your Currency®, for Banorte’s point-of-sale (POS) terminals.
Pay in Your Currency® allows international customers to pay for their hotel stay, retail purchase or restaurant bill in the currency of their preference.
With this launch in POS terminals, a wider range of Banorte affiliated businesses will have the opportunity to provide superior customer service by offering Pay in Your Currency®. These merchants will also be able to reduce the processing costs of international transactions while continuing to be paid and settled in Mexican Pesos. Pay in Your Currency® has been offered to hotels affiliated with Banorte businesses using the integrated hospitality solution, Micros Payment Gateway, since 2013.
“At Grupo Financiero Banorte, we are focused on identifying and addressing the specific needs of our customers. With this solution, we can give those who travel the ability to pay their expenses for lodging, food and shopping in general in their currency for their convenience,” said Manuel Romo, Managing Director of Consumer Products at Banorte.
“Planet Payment is deeply excited about expanding Pay in Your Currency® to include POS terminals affiliated with Banorte,” said Seth Asofsky, Senior Vice President, Sales Operations, Americas at Planet Payment. “Pay in Your Currency® provides merchants with an effective way to reduce processing costs while providing a valued service to their international customers.”
Grupo Financiero Banorte (GFNorte) is one of Mexico´s leading financial institutions. It is the third largest banking group in the country and the largest controlled by Mexican shareholders. It currently has more than 1,100 branches, 79 Ixe Preferential Banking units and more than 7,200 ATM´s; more than 6,800 banking correspondents and more than 63,000 POS terminals. GFNorte offers products and brokerage services, asset consulting, investment companies, leasing and factoring, warehousing, insurance, pensions and retirement savings. It runs the main Administrator of Retirement Funds in Mexico, Afore XXI Banorte. Banorte is present in south Texas through the Inter National Bank, as well as in New Jersey and California, through remittance companies such as Uniteller and Motran; and in New York, through Banorte Securities International. It is one of the banks with better asset quality indicators in the Mexican financial system and has high levels of capitalization and liquidity.
About Planet Payment
Planet Payment is a leading provider of international payment processing and multi-currency processing services. We provide our services in 21 countries and territories across the Asia Pacific region, North America, the Middle East, Africa and Europe, primarily through our 71 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.
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