Global Payments Asia-Pacific Ltd. said Thursday that it has started a service in the Philippines that lets merchants accept card payments in other currencies.
Global Payments Asia-Pacific, a joint venture between Global Payments Inc. and the Hongkong and Shanghai Banking Corp. Ltd. unit of HSBC Holdings PLC, said its new HomeCurrencyPay service lets foreign shoppers pay in their usual currency or switch to the Philippine peso at the point of sale.
If shoppers choose to convert the payment to their home currency, the conversion is done at the point of sale and the amount is displayed during the transaction.
HomeCurrencyPay is also offered in China, Hong Kong, India, Macau, Malaysia and Taiwan.
"The extension of this dynamic currency conversion service to the Philippine market reflects our commitment to … all our geographic markets," Ian Courtnage, the venture's president, said in a press release.