Bank of East Asia to offer Planet Payment's Pay in Your Currency service

Planet Payment anticipates launching the service in 2008.

The Pay in Your Currency service provides customers using Visa or MasterCard payment cards denominated in most major currencies with a real-time choice of currencies in which to complete their purchases. Tourists and business travellers will enjoy the comfort of knowing how much they are paying in their home currency, and they no longer need to wait until they return home to discover what their transactions actually cost in their home currency. The service provides merchants with a powerful marketing tool that can be used to attract more customers and drive sales by providing superior customer service and a more personalized shopping experience.

Incorporated in Hong Kong in 1918, BEA provides comprehensive retail and commercial banking services to customers in Hong Kong, Greater China, and overseas. BEA is the largest independent local bank in Hong Kong and one of the first foreign banks to be authorized to operate in Mainland China.

Commenting on the agreement, Philip Beck, Chairman and Chief Executive of Planet Payment, said: "Planet Payment is delighted to be offering our Pay in Your Currency Service with BEA in Hong Kong, We are very excited about this opportunity and look forward to working with BEA over the months and years ahead."