CINCINNATI – Fifth Third Processing Solutions announced yesterday it will be offering Planet Payment’s Pay in Your Currency service, which will allow international cardholders using eligible cards to see the final amount of a cash withdrawal in their home currency at the time of the transaction.
With the service, known as Dynamic Currency Conversion, if the cardholder chooses to have the transaction converted, the amount in their local currency that they see on the ATM screen is the exact amount that will appear on their financial institution’s account statement.
Fifth Third Processing Solutions and Planet Payment have been offering a Dynamic Currency Conversion service to retailers in the U.S. market since 2004. The service now will be available on the 11,000 ATMs Fifth Third Processing Solution manages on behalf of 2,000 credit unions and banks.
The targeted launch date of the service is early in the third quarter of 2011.
