Network International, the leading payments solution provider in the Middle East and Africa, and Planet Payment, Inc. (NASDAQ:PLPM), a leading international and multi-currency payment processor, today announced the extension of their multi-year agreement, which will mark ten years of partnership. The Companies also announced that the Pay in Your Currency® product is deployed at over 22,000 merchants in the UAE.
Pay in Your Currency provides Network International merchants with the ability to offer eligible international customers the convenience of paying for their purchases in their own currency. With this personalized payment solution, merchants still receive funding and settlement in UAE Dirham, while allowing them to improve customer service and increase profitability.
Pay in Your Currency is an ideal solution catering to the influx of tourists attracted to the UAE annually. According to the World Travel and Tourism Council, international tourist arrivals in the UAE are forecast to total 30,938,000 by 2026, generating over four billion US Dollars.
“Network International and Planet Payment have successfully worked together since 2010, and we are pleased to be extending our contract to continue offering Pay in Your Currency in the UAE,” said Simon Haslam, Group CEO of Network International. “We have seen proven success with this solution, and are thrilled that over 22,000 merchants are now live and offering their international customers the choice to pay in their own currency.”
“Planet Payment is happy to extend our long-standing partnership with Network International,” said Carl J. Williams, Chief Executive Officer at Planet Payment. “Pay in Your Currency is an optimal solution for merchants in the UAE, where Network International merchants can offer the increasing number of tourists the opportunity to pay in the currency they know best – their own.”