STRATEGIC PARTNERS
The company's Bank In Your Currency service lets international travelers withdraw local currency from an ATM and instantly see the amount debited to their account in their home currency.
September 16, 2014
Planet Payment Inc., a provider of multicurrency payment processing and transaction services, and ATM processor Columbus Data Services LLC have announced the launch of Bank In Your Currency on the CDS ATM network. The service is now available to all CDS Market Partners and their 85,000-plus ATMs nationwide, according to a news release.
Bank In Your Currency lets international travelers withdraw local currency from an ATM while seeing the amount debited from their account in their home currency. International cardholders can instantly view, select and better understand the conversion to their home currency of the U.S. dollar amount dispensed at participating ATMs.
The solution benefits ATM users and IADs alike, said CDS President Stuart Mackinnon. "We are eager to launch the Bank In Your Currency solution throughout our ATM network. With international visitors to the U.S. spending a record-breaking amount in 2013, we remain committed to making it easy for these international travelers to access cash and know exactly how much will be deducted from their account at the time of the withdrawal. By enabling these products at the ATM, CDS is helping ATMISOscombat declining interchange with new services."
The currency conversion shift to the ATM creates additional revenue opportunities on both new and existing ATM transactions for Columbus Data Services and its market partners, said Drew Soinski, Planet Payment managing director for the Americas, in the release.
