MOSCOW, Russia and LONG BEACH, N.Y., Oct. 02, 2017 (GLOBE NEWSWIRE) — Russian Standard Bank (RSB), the second largest acquirer in Russia, and Planet Payment, Inc. (NASDAQ:PLPM), a leading international and multi-currency payment processor, today announced the launch of Pay in Your Currency®, Planet Payment’s Dynamic Currency Conversion solution, to RSB’s portfolio of merchants.
The first dynamic currency conversion solution in this market, Pay in Your Currency®, which will be available on standalone Point-of-Sale (POS) terminals, provides eligible international customers with the choice to pay in their local currency. Customers will be given the convenience of selecting on their receipt whether they prefer to pay in Russian Rubles or the currency they know best — their own.
Pay in Your Currency enables merchants to reduce processing costs on foreign transactions, while offering a customized payment experience to attract international customers. RSB merchants continue to receive settlement and reporting in Russian Rubles, with no delay in funding.
“Planet Payment is pleased to partner with Russian Standard Bank to bring Pay in Your Currency to Russia,” said Jonathan Ellis, Managing Director, EMEA at Planet Payment. “RSB is one of the largest acquirers in the region, and we couldn’t ask for a better partner to work with. We believe Pay in Your Currency will be a positive, value-added solution for RSB, their merchants and their customers.”
About Russian Standard Bank
Russian Standard Bank was founded in 1999. The main shareholder of the Bank is the holding company Russian Standard Corporation. Russian Standard Bank is a leading private bank in the consumer lending market and consumer deposit market. The Bank dominates the merchant acquiring sector.
- More than 28 million individual customers.
- More than 46 million credit cards.
- Exclusive issuer of American Express® Centurion Line Cards in Russian Federation since 2005.
- Strategic partner of Diners Club International® in issuing and acquiring of Diners Club cards in Russian Federation.
- Strategic partner in issuing and acquiring of Discover cards in Russian Federation.
- Key business areas: POS loans, credit cards, PILs, payments and money transfer, deposits, and acquiring.
About Planet Payment
Planet Payment is a leading provider of international payment processing and multi-currency processing services. We provide our services in 22 countries and territories across the Asia Pacific region, North America, the Middle East, Africa and Europe, primarily through our 70+ acquiring bank and processor customers. Our point-of-sale and e-commerce services help merchants sell more goods and services to consumers, and together with our ATM services are integrated within the payment card transaction flow enabling our acquiring customers, their merchants and consumers to shop, pay, transact and reconcile payment transactions in multiple currencies, geographies and channels.
Planet Payment is headquartered in New York and has offices in Atlanta, Beijing, Bermuda, Delaware, Dubai, Dublin, London, Hong Kong, Mexico City, Shanghai and Singapore. Visit www.planetpayment.com for more information about the Company and its services.