New solution to provide dynamic currency conversion services in Canada
TORONTO and ATLANTA-- Global Payments Inc., provider of electronic transaction payment processing services, is launching HomeCurrencyPay, a dynamic currency conversion service available to Global Payments' merchants throughout Canada.
HomeCurrencyPay enables merchants to offer international Visa and MasterCard cardholders the option of paying for their purchases in their own home currency. The solution is powered by Pay in Your Currency technology by Planet Payment Inc., a provider of international payment processing and multi-currency processing services.
"We are very excited to offer this dynamic currency conversion solution to our merchants in Canada," said Jeff McGuire, vice president, product delivery & technology for Global Payments' Canadian operations. "With a record number of international travellers to Canada spending nearly $15 billion a year, HomeCurrencyPay will provide merchants with the edge in capturing this highly competitive international visitor market, help merchants grow their businesses and provide a better checkout experience."
HomeCurrencyPay provides merchants with the option for instant conversion of 28 different currencies at the point of sale, and the creation of an ongoing revenue stream from merchant credits on every foreign currency transaction processed via HomeCurrencyPay. Other benefits, says the company, include seamless implementation, a fully-automated process, no related set-up or ongoing fees, and default payment in Canadian dollars.
The solution supports both EMV and magnetic stripe cards. For customers, the exchange rate and final price in their home currency will be displayed before they complete their purchase and make their currency selection, as well as on the transaction receipt.
Canada is the first North American launch of dynamic currency conversion for the company, with the United States scheduled for launch later this summer. Global Payments currently offers dynamic currency conversion services across Asia, Spain and the United Kingdom.