New Service Provides International Cardholders with the Convenience of Paying in Their Own Currency
MANILA, Philippines, May 13 /PRNewswire-Asia/ -- Global Payments Asia-Pacific Limited ("Global Payments"), a joint venture between the U.S.-based Global Payments Inc. (NYSE: GPN) and the Hongkong and Shanghai Banking Corporation Limited ("HSBC"), introduced its Global HomeCurrencyPay(TM) 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.
(Logo: http://www.prnasia.com/xprn/sa/200803261513.jpg )
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.
About Global Payments Asia-Pacific Limited
Global Payments Asia-Pacific Limited (Global Payments), currently serving merchants in 11 countries and territories across Asia, is the largest pan-Asian card processing company in the region. The company is a strategic joint venture between Global Payments Inc. (NYSE: GPN), a leading worldwide payment processor and The Hongkong and Shanghai Banking Corporation Limited. The company brings a new level of innovation to merchant services in the region with an expanded range of innovative payment solutions, industry-leading merchant reporting tools, and unparalleled merchant services. Global Payments has established a strong presence in the Asia-Pacific region and now operates in Brunei, China, Hong Kong, India, Macau, Malaysia, the Maldives, the Philippines, Singapore, Sri Lanka and Taiwan. For more information about the company and its services, please visit http://www.globalpayments-asia.com .
This announcement by Global Payments may contain certain forward-looking statements within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including revenue and earnings estimates and management's expectations regarding future events and developments, are forward-looking statements and are subject to significant risks and uncertainties. Important factors that may cause actual events or results to differ materially from those anticipated by such forward-looking statements include the following: continued certification by credit card associations, foreign currency risks, competition and pricing, product demand, market and customer acceptance, development difficulties, the effect of economic conditions and consumer spending, security breaches or systems failures, costs of capital, changes in state, federal or foreign laws and increases in credit card association fees, utility or system interruptions, the ability to consummate and integrate acquisitions, and other risks detailed in the Company's SEC filings, including the most recently filed Form 10-Q or Form 10-K, as applicable. The Company undertakes no obligation to revise any of these statements to reflect future circumstances or the occurrence of unanticipated events.
Media Relations Contact:
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SOURCE Global Payments Asia-Pacific Limited