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TheStreet Open House

Taishin Bank And Planet Payment Launch Pay In Your Currency In Taiwan

Stocks in this article: PPT

LONG BEACH, N.Y. and TAIPEI, Taiwan, Oct. 15, 2012 (GLOBE NEWSWIRE) -- Taishin International Bank Co., Ltd and Planet Payment, Inc. (LSE:PPT) (LSE:PPTR) (OTCQX:PLPM), a leading multi-currency payment and data processor, today announced the launch of Planet Payment's Pay in Your Currency ® service to Taishin Bank's portfolio of merchants in Taiwan.

Pay in Your Currency can offer significant value-added benefits to Taishin merchants and their customers in Taiwan. Pay in Your Currency allows eligible international customers to be offered the choice of paying in their home currency at the point-of-sale. The customers are presented with a receipt or terminal which displays the transaction amounts in New Taiwan Dollar and their home currency, together with the exchange rate and other service details. The customer then selects their currency choice on the receipt or device. With Pay in Your Currency, international travelers can enjoy a more comfortable shopping experience by knowing what they are paying in their home currency. Simultaneously, the merchant is provided with an opportunity to reduce the processing costs incurred on these transactions.  

Merchants are able to take advantage of the Taishin Bank and Planet Payment solution with ease and convenience through their standard Taishin Bank merchant account. Merchants continue to receive all funding directly from Taishin Bank in New Taiwan Dollars with the same funding schedule as their domestic transaction activity.

"We are excited to be offering Pay in Your Currency to our merchants and their international customers in Taiwan," said Amy Hsia, Head of Payment Service Division, at Taishin Bank. "Providing innovative and superior solutions to our merchants is a top priority, and we are thrilled to be partnering with Planet Payment to continue to do so."

"Planet Payment is eager to work with Taishin Bank to expand our presence in Taiwan, making Pay in Your Currency more readily available to merchants, as well as to international travelers visiting the region," said Raymond Tang, General Manger for Greater China at Planet Payment. "We believe it is a positive, value-added service for Taishin Bank, their merchants and their customers."

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