FX Assured® couples the convenience and certainty of Pay in Your Currency (also known as Dynamic Currency Conversion, or DCC, in the credit card industry) with the added benefit of a Best Rate Guarantee. With FX Assured, cardholders using their card at participating merchants receive an individualized exchange rate, which is calculated to be better than the effective rate charged by their issuing bank. FX Assured marks-up individual transactions in real time using Planet Payment’s patent-pending technology.
Planet Payment is committed to providing international customers the best value, and we will pay 150% of the difference if a customer shows that they would have gotten a better deal from their card provider!
To offer FX Assured, Contact Us or call 1.866.FX-ASSURED (1.866.392.7787) to learn more about Planet Payment’s Best Rate Guarantee.
Restrictions and limitations apply. For details, please see FX Assured Terms and Conditions
Merchants:
- Attract new, international customers
- Encourage repeat business
- Create a personalized pricing experience
- Offer superior customer service
- Create an Additional Revenue Stream
- Offer our Pay in Your Currency service, with a guaranteed best rate
With FX Assured, customers can enjoy the certainty and convenience of knowing the exact price of your purchase in your home currency, with the added convenience of knowing they are paying the best rate. Cardholders using their card at participating merchants receive an individualized exchange rate, which is calculated to be better than the effective rate charged by their issuing bank. FX Assured marks-up individual transactions in real time using Planet Payment’s patent-pending technology. If the conversion rate used is higher than the rate and fees the card provider would have charged, Planet Payment will pay the cardholder 150% of the difference.
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The Best Rate Guarantee from FX Assured® promises to pay 150% of the difference between the amount you were charged at a participating merchant and the amount (including international usage fees) you would have been charged by your card provider had you completed the transaction in the merchant’s local currency. Restrictions apply. For details, please see FX Assured Terms and Conditions.
If you believe that you would have received a lower effective rate (including international usage fees) by completing the transaction in the merchant’s currency, please follow these three easy steps to claim your rebate:
- Print out a copy of the FX Assured Claim Form and enter all the requested information.
- Gather the following documentation:
- The merchant’s receipt from your FX Assured transaction.
- Your statement from the same credit card, showing a non-FX Assured purchase you made on the same date, which your card provider billed at a lower effective exchange rate (including any international usage fee). Please ensure that your account number shows on the statement you provide so your rebate may be applied correctly.
FAX all of the above to our secure number: 516.284.2555 or Mail to
Planet Payment
670 Long Beach Blvd
Long Beach, NY 11561
Attn: FX Assured Claims Dept.
- Once Planet Payment has verified your claim, you will receive a credit to your card for 150% of the difference between the price you were charged in your currency and the price you would have been charged had you completed the transaction in the merchant’s currency. Restrictions apply. For details, please see FX Assured Terms and Conditions.
- Qualified merchants participating in Planet Payment’s Pay in Your CurrencyTM service and specifically approved by Planet Payment may offer FX Assured® through participating acquiring banks. Merchants interested in offering FX Assured are invited to call us at 1.866.FX-ASSURED (1.718.FX- ASSURED from outside the U.S) or click to Contact Us
- As of 10/15/05, FX Assured is available in the United States for cardholders whose Visa or MasterCard cards are billed in British Pounds Sterling, Canadian Dollars, Euros, Australian Dollars or Japanese Yen. Other countries and currencies may be added over time.
- If Planet Payment converts a transaction through the FX Assured service, it will be at an exchange rate calculated to be more favorable than the effective rate (including international usage fees), which would have been applied by the provider of the card on which the transaction is completed, if the cardholder had paid in the merchant’s currency.
- Credit card providers may charge travelers international usage fees (which may, or may not be separately identified on card billing statements) in addition to the currency conversion rate, when they use their card in a foreign country. Planet Payment maintains a database of the known international usage fees of major credit card providers in the countries of the currencies supported under the service. When our system identifies a card issued in one of the supported currencies, Planet Payment determines the international usage fee typically charged by the credit card provider. In calculating the rate to be used in the particular FX Assured Transaction, which is based on the applicable wholesale or government mandated currency exchange rate for that date, Planet Payment applies a fee for its services, that is lower than the international usage fee recorded in our database. If the card provider does not charge any international usage fee, then the rate used will be the same as the applicable wholesale or government mandated currency exchange. Planet Payment thereby makes a good faith effort in all cases to calculate and charge a conversion rate that is lower than the effective rate, including international usage fees charged by the provider of the card used, for transactions performed in the merchant’s currency. As card providers may change their conversion rates and international usage fees without warning, Planet Payment may, on occasion, inadvertently charge a rate that is higher than the provider’s effective rate.
- Create an Additional Revenue Stream
- If a cardholder shows us that he would have obtained a better effective rate (including international usage fee) from his credit card provider, Planet Payment will honor the Best Rate Guarantee by paying the cardholder 150% of the difference between the amount he was charged at a participating merchant and the amount he would have been charged by his card provider if the transaction had been completed in the merchant’s currency.
- To Submit a Claim under the FX Assured service, a cardholder must print out and complete the FX Assured Claim Form and follow the directions outlined within 120 days of the original purchase date.
- Cardholders should allow seven calendar days after submitting their claims for Planet Payment to verify. Planet Payment will send a confirmation with respect to each claim either to the postal address or email address provided by the cardholder. Any adjustments will be made directly to the card account number shown on the statement provided.
- NOTWITHSTANDING THAT A CARDHOLDER MAY CHOOSE TO USE FX ASSURED, SOME CREDIT CARD PROVIDERS MAY STILL CHARGE A FEE FOR INTERNATIONAL CARD USAGE, EVEN WHERE THE TRANSACTION IS PERFORMED IN THE CARDHOLDER’S BILLING CURRENCY. CARDHOLDERS SHOULD CONTACT THEIR ISSUERS TO ASCERTAIN IF THEY ARE ENGAGING IN THIS PRACTICE. PLANET PAYMENT’S BEST RATE GUARANTEE DOES NOT COVER THESE ADDITIONAL FEES.
- A CARDHOLDER’S SOLE RECOURSE UNDER FX ASSURED IS SUBMISSION OF A CLAIM AS DESCRIBED HEREIN AND, ACCORDINGLY, IT IS UNDERSTOOD THAT ANY CLAIM OR DISPUTE IN CONNECTION WITH FX ASSURED DOES NOT PROVIDE A CUSTOMER WITH THE RIGHT TO INITIATE A CHARGEBACK WITH RESPECT TO AN FX ASSURED TRANSACTION. IT IS FURTHER UNDERSTOOD THAT PLANET PAYMENT’S DETERMINATION REGARDING THE VALIDITY OF A CLAIM IS FINAL.
- The FX Assured service is governed exclusively by these Terms and Conditions, which any cardholder wishing to use the service accepts by presenting his or her credit card for payment at a participating merchant and completing the transaction in the currency in which the cardholder is billed. Planet Payment is not responsible for, nor shall it be bound by, any statements or representations regarding the FX Assured service made by any third party, and no one is authorized to make changes to these Terms and Conditions.
- Please note that not all merchants that use Planet Payment’s services, whether directly or through a participating financial institution, offer the FX Assured service.
- The FX Assured service may be cancelled at any time, without prior notification.
- The Terms and Conditions of the FX Assured service are governed by and construed in accordance with the laws of the State of New York and any disputes relating thereto shall be subject to the exclusive jurisdiction of the courts, Federal and State, located in the State of New York.
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