Planet Payment Inc. will provide its Pay in Your Currency service to merchants in the United Arab Emirates under an agreement with Network International LLC, an acquirer in the Middle East and North Africa and a card-services provider in the United Arab Emirates, according to Long Beach, N.Y.-based payment processor Planet Payment.
Pay in Your Currency will enable Network International merchants to give consumers the option of paying for purchases at the point of sale in the local currency or the consumers’ native currency. Merchants that present consumers with currency options are able to improve client service and potentially grow transaction volume, states Planet Payment.
Network International is the first acquirer in the United Arab Emirates to offer Planet Payment’s Pay in Your Currency service, Abdulla Qassem, Network International chairman, said in a release. “The [United Arab Emirates] is a global destination for business and tourist travel,” and merchants that offer Planet Payment’s service will be able to “better serve their international clientele,” he says.
Planet Payment declined to disclose the number of merchants that will be using the service in the region. Visitors to the United Arab Emirites spent AED83.5 billion dirhams (US$22.7 billion) on goods and services in 2009, according to Planet Payment, citing figures from the World Travel & Tourism Council.
“The United Emirates attracts a significant volume of international visitors, and the Pay in Your Currency service allows merchants to cater to these visitors,” says a Planet Payment spokesperson.
Network International did not return a request for comment immediately.
