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JAKARTA, Indonesia and LONG BEACH, N.Y., Dec. 11, 2013 (GLOBE NEWSWIRE) -- PT Bank Central Asia Tbk (IDX:BBCA), one of the leading commercial banks in Indonesia, and Planet Payment, Inc. (Nasdaq:PLPM) (LSE:PPT), a leading international and multi-currency payment processor, today announced the launch of Planet Payment's Pay in Your Currency® service to BCA's portfolio of merchants across Indonesia.
Pay in Your Currency can offer significant benefits to BCA's merchants and their customers. With Pay in Your Currency, eligible customers are offered the convenience of paying in their home currency at the point-of-sale. The customers are handed a receipt which shows the transaction amounts in Indonesian Rupiah and their home currency, together with the exchange rate and other service details. The customer then makes their currency choice on the receipt. With Pay in Your Currency, international travelers can enjoy a more comfortable shopping experience by knowing what they are paying in their home currency, while simultaneously providing the merchant with an opportunity to reduce the processing costs incurred on these transactions.
Tourism is an important component of the Indonesian economy and the levels of inbound international travel have been steadily increasing over the past several years. In 2010, a total of 7 million international travelers visited Indonesia, increasing 9% in 2011 to 7.65 million visitors (Indonesia Central Statistics Bureau). In 2012, 8 million international travelers visited Indonesia and the upward trend is expected to continue in 2013 to a projected 8.5 to 9 million visitors (Travel Daily News, 4 January 2013). Pay in Your Currency allows BCA's merchants to provide enhanced customer service to this important customer segment.
"Many of our merchants, including those in the hospitality, restaurant and retail sectors, count on international customers for a significant portion of their business," said Santoso, Senior General Manager of BCA. "We believe that Pay in Your Currency is an important addition to our suite of products and will allow our merchants to better serve their international clientele by delivering a more comfortable and convenient shopping experience."