Network International, the leading payment solutions provider in
the Middle East and Africa (MEA), and Planet Payment, Inc.
(NASDAQ:PLPM), a leading international and multi-currency payment
processor, launched Pay in Your Currency®, Planet Payment’s Dynamic
Currency Conversion solution, in Bahrain, with Ahli United Bank
(AUB), Bahrain’s leading bank.
The agreement builds upon the strategic alliance
between Network International and AUB, announced in 2012, to
deliver a comprehensive merchant acquiring solution for AUB’s
portfolio of merchants. With the new ‘Pay in Your Currency’
facility, AUB’s merchants have the ability to offer eligible
international customers the convenience of paying for their
purchases in their own currency. With this personalized payment
solution, merchants will still receive funding and settlement in
Bahraini Dinar while delivering enhanced customer service and
reducing the cost of payment card acceptance.
With over ten million international visitors to
Bahrain in 2015, the country represents a ready market for Pay in
Your Currency. Pay in Your Currency provides AUB’s merchants with a
new tool to cater to this growing market of international visitors
and differentiate themselves among other merchants.
“Pay in Your Currency provides our merchants
with an innovative solution that will help them better serve the
growing number of international visitors to Bahrain,” said Abdulla
Al Raeesi, Deputy Group CEO, Retail Banking, Ahli United Bank.
“Thanks to our partnering with Network International and Planet
Payment, we are delighted to bring this multi-currency solution to
our merchants. AUB will continue to offer innovative and
state-of-the-art value added services to our merchants to be the
card acquirer of choice in Bahrain.”
“Network International is deeply committed to
offer merchants and customers innovative and convenient payment
solutions. We are excited to now launch this service with our
processing partner, Ahli United Bank in Bahrain,” said Bhairav
Trivedi, Group Chief Executive Officer, Network International. “We
have seen proven success with this solution in other areas of the
Middle East, and the time is right to bring this multi-currency
solution to Bahrain.”
“Planet Payment is pleased to expand our
long-standing partnership with Network International to bring Pay
in Your Currency to Ahli United Bank’s merchants in Bahrain,” said
Jonathan Ellis, Managing Director, EMEA at Planet Payment. “We
believe that Pay in Your Currency delivers solid benefits to both
merchants and their customers and we look forward to the roll-out
of our solution across AUB’s portfolio of merchants.”
About Network
International:
Established in 1994, Network International LLC
is the largest acquirer in the UAE, and a leading payment solutions
provider in the Middle East and North Africa region (MENA). The
company’s service offering comprises a comprehensive range of
payment products and services for both the Issuing and Acquiring
segments of banks, financial institutions and retail merchants.
This includes credit, debit and prepaid card processing, ATM
management and monitoring, merchant acquiring and processing, fraud
management, e-commerce services and mobile solutions for the
payments industry, with the objective of enabling speedy, secure
and convenient payment transactions for customers. In addition, the
company offers several value-add products including data analytics,
scoring and loyalty solutions. Network International has operation
centers in the UAE, Egypt and India, with its corporate head office
in Dubai. The company recently acquired Emerging Markets Payments
Holdings Limited (EMPH) and continues to invest in strategic
partnerships that will increasingly see its influence spread across
the region.
Network International is a Principal Member of
Visa International and MasterCard International in the UAE and
enjoys extension of its MasterCard License in other key countries.
It is also a member of JCB and Union Pay card schemes, and it owns
and manages the Diners Club International Franchise in the UAE,
Egypt, Lebanon and Jordan. In 2013, the company launched a GCC
based domestic scheme, Mercury, and partnered with Discover
Financial Services (DFS) to allow global acceptance of Mercury
cards on the Discover, Diners Club International and PULSE
networks. Network International, a Payment Card Industry Data
Security Standard (PCI DSS) certified company, is also a major
player in the international remittance industry and owns a 100
percent stake in TimesofMoney Ltd., a leading global online
remittance and digital payments company facilitating cross-border
remittances and domestic payments in emerging economies.
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 75 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.
About Ahli United Bank
With headquarters in Bahrain and full-fledged operations across
the Middle East and the UK, Ahli United Bank (AUB) is a leading
pan-regional financial services provider, offering a full range of
retail, commercial and private banking & wealth management
services, both conventional and Sharia-compliant, to a growing
client base in Bahrain, Kuwait, United Arab Emirates, Oman, Iraq,
Egypt, Libya and the United Kingdom. AUB remains focused on
building a resilient, prudent and well-diversified financial
services group to better service its clients and enhance
shareholder value on a sustainable basis.
AUB’s strong performance has earned it a string
of prestigious accolades over the years, including: "Best Bank in
the Middle East (2012)” by Euromoney; “Best Bank in Bahrain -2015"
for the tenth year running by both Global Finance and Euromoney and
“Bank of the Year -2015” by The Banker for the tenth consecutive
year.
Contacts:
Network International:
Tricia Kaul
ASDA’A Burson-Marsteller
Dubai, UAE
Tel: 971-4-4507600 Fax: 971-4-4358040
Email: tricia.kaul@bm.com
Ahli United Bank
Niradh Kaul – Head of Card Acceptance (GCC)
+973-1758-5987
Niradh.Kaul@AhliUnited.com
Planet Payment
Jill Raftery – Marketing Director
516-941-1858
jraftery@PlanetPayment.com
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