BBVA Bancomer, the largest financial institution in Mexico, and Planet Payment, Inc. (PLPM), a leading provider of international and multi-currency payment processing services, today announced the signing of a multi-currency processing agreement and the launch of Planet Payment’s integrated payments hospitality solution for BBVA Bancomer merchants.
Planet Payment’s integrated payment solution supports the Oracle Hospitality / MICROS suite of hospitality products, including OPERA, 3700, 9700 and Simphony POS systems. This payment solution allows hotels to streamline their back-office reconciliation process by creating a single solution integrating the hotel’s payment processing with their property management system. It provides enhanced security and fraud features, including encryption and transaction tokenization, to help ease merchant’s PCI burden. Planet Payment is a Gold-level member of the Oracle Partner Network (OPN).
As part of the agreement, Planet Payment’s Dynamic Currency Conversion (DCC) service, Pay in Your Currency®, will also be integrated into the hospitality solution, as well as BBVA Bancomer’s point-of-sale terminals in 2016. Pay in Your Currency offers international guests the choice to pay in the currency they know best – their own, while the merchant continues to receive funds in Mexican Pesos.
"Our partnership with Planet Payment enables BBVA Bancomer to enhance our current merchant services offering in Mexico with powerful new products,” said Ing. Alejandro Pineda Mosiño, Corporate Director of Credit and Payments Solutions at BBVA Bancomer. “These solutions allow our merchants to offer enhanced service to their guests and benefit from more streamlined payment processes.”
“We are thrilled to be working with Bancomer to further our presence in Mexico,” said Seth Asofsky, Senior Vice President, Sales Operations, Americas at Planet Payment. “We offer a best-in-class payment processing and reconciliation solution for the hospitality market.”