Global Payments Asia-Pacific Limited ("Global Payments"), a joint venture between the U.S.-based Global Payments (NYSE: GPN) and the Hongkong and Shanghai Banking Corporation Limited ("HSBC"), introduced its Global HomeCurrencyPay service to merchants in the Philippines.
Global Payments is the first card merchant acquirer to launch this dynamic currency conversion service in the Philippines following the successful rollout in China, Hong Kong, India, Macau, Malaysia and Taiwan.
With this innovative new service, Philippine merchants can let their international customers choose to make payment in either their card billing currencies or in Philippine Peso using their Visa(R) or MasterCard(R) payment cards. The credit card payment transactions are converted to the customers' card billing currencies at the point of sale, providing them with the convenience of immediately knowing the payment amount. Global HomeCurrencyPay offers best in class payment experience including 22 transaction currencies processed in a seamless manner at the merchants' point-of-sale terminals.
Commenting on the launch, President -- Global Payments Asia Pacific, Ian Courtnage, said, "Global Payments is dedicated to providing cutting-edge processing solutions to help merchants continually improve the payment experience. The extension of the dynamic currency conversion service to the Philippine market reflects our commitment to provide outstanding products and services across all our geographic markets. Merchants in the travel and hospitality businesses in the Philippines will benefit from the lower cost of processing overseas card transactions and will be able to offer enhanced service to their international customers."
The dynamic currency conversion service is rapidly gaining popularity with cardholders across the region, who have increasingly adopted the option to pay in their home currency when they travel abroad.