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8/14/2008
First Horizon Merchant Services Launches New Point of Sale Currency Product - Powered by Planet Payment®
By Business Editors,
ENGLEWOOD, Colo.--(BUSINESS WIRE)--June 25, 2002--A new program announced today will enable customers from Canada, the United Kingdom, Japan, Australia and the Euro-zone countries to pay American merchants with their Visa or MasterCard in their local currencies while allowing merchants the ability to offset a substantial portion of their costs of processing international credit card transactions.
The Planet Payment Point of Sale Currency Conversion Program - launched today by First Horizon Merchant Services - allows foreign customers to pay by Visa or MasterCard at American merchants in the customers' local currencies. First Horizon clears the transaction through the card association in the currency in which the card is billed. Participation is easy for merchants in retail, e-commerce, travel or entertainment, requiring little additional effort other than informing foreign customers about the program before they complete their transactions. The exchange rate is competitive to that which is used by the card associations and issuing banks as well as other payment methods popular for international travel and purchases.
"Thanks to this program, we were able to capture a new revenue stream out of our existing transactions, while providing our international customers with a competitive, personalized and convenient currency conversion service all at the point of sale," said Kirk Poe, vice president, Destination Hotels & Resorts.
Merchants can sign up for the Planet Payment POS Currency Conversion Program at the Hospitality Financial & Technology Professionals HITEC show that begins today and runs through Thursday at McCormick Place in Chicago. More information is available at First Horizon's Web site, or by contacting Planet Payment at 516/670-3200.
About First Horizon Merchant Services
First Horizon Merchant Services, a wholly owned subsidiary of First Tennessee National Corporation (NYSE:FTN), is a leading provider of transaction processing and bankcard acquiring services. First Horizon provides processing services for all major card types as well as most regional and national debit and EBT cards. First Horizon also provides the capability for check verification and check guarantee with outstanding customer support, comprehensive reporting and continuous development of processing technology. More information is available at or by contacting Jay Collins at 303/268-2307 or jayc@fhmsi.com .
About Planet Payment
Founded in January 1999 and headquartered in NY, Planet Payment provides multi-currency payment solutions enabling merchants and cardholders worldwide to complete credit card transactions in the currency of choice for both parties. For more information contact Tom DeLuca or James Moore at Planet Payment 516/670-3200 by email at tdeluca@planetpayment.com or jmoore@planetpayment.com or visit http://www.planetpayment.com/.
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