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Dynamic currency conversion goes live on 5,000 PAI ATMs

ATM Currency Exchange lets international travelers withdraw US dollars from an ATM and see the amount debited to their account in their home currency.

October 8, 2014

Payment Alliance International has implemented real-time dynamic currency conversion at 5,000 ATMs on its nationwide ATM network, collaborating with international multicurrency payment processor Planet Payment Inc.

A PAI press release said that the company will continue rollout of the ACE program to the network of more than 60,000 retail ATM locations it manages across the U.S.

The service, called ATM Currency Exchange, lets international travelers withdraw U.S. dollars from an ATM and see the amount debited to their account in the currency of their home country.

The ACE program couples DCC with ATM EMV readiness, affording the benefits of secure EMV acceptance at ATMs. The revenue PAI market partners earn from ACE can help them to offset the expense of EMV migration, the release said.

"The 5,000 PAI ATMs in the U.S. that are now offering this service are delivering a better service to international cardholders," said Drew Soinski, managing director for the Americas at Planet Payment. "We look forward to continuing our support of PAI in its rollout of ACE in the U.S."

PAI director of product development Jason Kuhn said that initial feedback from market partners has been positive.

"We look forward to reaching yet another milestone in the near future as we continue to rollout both the ACE solution and EMV upgrades onto our network of ATMs," he said.