MOSCOW and LONG BEACH, NY, October, 24, 2017 – 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 that Pay in Your Currency® (PYC), Planet Payment’s Dynamic Currency Conversion solution, is now live at CORREAS in Moscow.
Pay in Your Currency®, which was the first dynamic currency conversion solution in this market, launched earlier this year. PYC provides eligible international customers with the choice to pay in Russian Rubles (RUB), or the currency they know best – their own. At CORREAS, patrons will now be given a quotation slip at the table, which presents them with the choice or RUB or their home currency. All the international patron has to do is make their selection on the slip, to indicate which currency they prefer to pay in.
Guest satisfaction is a top priority for this five star restaurant, world renowned for its fine dining. Offered as a customer service enhancement, PYC provides international customers with an added level of personalization when they pay their bill.
Additionally, with Pay in Your Currency, merchants can reduce processing costs on foreign transactions. Correas will continue to receive settlement and reporting in Russian Rubles, with no delay in funding.
“Planet Payment is thrilled that Pay in Your Currency is now available at one of the best restaurants in the region,” said Jonathan Ellis, Managing Director, EMEA at Planet Payment. “We look forward to continuing our work with RSB to bring PYC to the rest of its merchants who cater to international 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.
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