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Planet and Banregio partner to implement Currency Conversion services at ATMs throughout Mexico

Planet and Banregio partner to implement Currency Conversion services at ATMs throughout Mexico


  • Planet and Banregio mark the start of a five-year partnership by launching a Currency Conversion solution at more than 300 ATMs across Mexico

  • Currency Conversion offers international spenders clarity and convenience by displaying prices in their home currency, while offering merchants and banks additional revenue

  • This deal adds to the growing number of Mexican banks that Planet has partnerships with and lays the groundwork for further rollout of Currency Conversion solutions


24th April 2020

International payments provider Planet has partnered with Mexican bank Banregio to implement Currency Conversion solutions for both Visa and Mastercard users across 308 ATMs in Mexico.

 

Currency Conversion offers many benefits to international spenders, providing clarity and simplicity by displaying prices in their home currency. The system offers customers the comfort and convenience of knowing the exact amount debited from their bank account in real time and in the currency they know best, their own.

 

Planet’s Currency Conversion solutions at ATMs are offered on over 100,000 machines in the Americas (North, Central and LatAm). Currency Conversion at ATMs provides a powerful incentive for international spenders to use and return to a bank's ATM network for their withdrawals abroad, with the service representing a value add that improves overall customer experience. 

 

Banregio’s Currency Conversion service has already proved popular in Mexico, with 85% of international Visa customers choosing to withdraw money in their own currency during the first two months of operation.

 

Jesus Roberto Cora, Deputy Director of Payment Methods at Banregio says: “Planet has been the perfect partner to help us implement Currency Conversion across our ATMs. Their experience, support and commitment to making this complex project run smoothly is unparalleled. We are excited to deliver Currency Conversion services to our customers and look forward to collaborating with Planet again in the future.

 

“International spenders are a crucial customer set and it is important that we make their experience as enjoyable and convenient as possible. Withdrawals of foreign currency can be confusing for international spenders, so we’re pleased to be able to offer a solution that makes it simple and reassuring for them to use our ATMs.”

We’re delighted to collaborate with Banregio to expand our partner network across the Americas, and also the successful rollout.

Steve O’Donovan, Chief Payments Officer, Planet

Steve O’Donovan, Chief Payments Officer at Planet, said: “The international spender journey is one that is often marked by layers of unnecessary complexity. Currency Conversion services offer a simple and effective way to enhance the experience of international spenders by enabling them to withdraw in the currency they know and understand the best: their own.

 

“We’re delighted to collaborate with Banregio to expand our partner network across the Americas, and also the successful rollout. This demonstrates the appeal of simplified payment experiences as well as the reach and attractiveness of the Banregio ATM network.”

 

Planet also works in partnership with several other Mexican banks including Banorte, Multiva, Afirme and Scotiabank, as well as payment processing partner Prosa in Mexico, and is planning to roll out further currency conversion services throughout Mexico.

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