Global Payments Inc. is offering Planet Payment Inc.'s Pay in Your Currency technology to merchants in Canada. Global Payments plans to offer a similar service in the U.S. later this summer.
Planet Payment's system will power Global Payments' HomeCurrencyPay, which allows international shoppers to make payments at the point of sale in prices set in their home currency.
Under HomeCurrencyPay, which Global Payments launched last week, the default currency is Canadian dollars. At the point of sale, merchants can instantly convert the price to any of 28 currencies.
Travelers to Canada spend nearly $15 billion a year, according to the Canadian Tourism Commission, and "HomeCurrencyPay will provide merchants with the edge in capturing this highly competitive international visitor market," said Jeff McGuire, vice president of product delivery & technology for Global Payments' Canadian Operations, in a press release.
Global Payments offers similar currency conversion services in the U.K., Spain and across Asia. Planet Payment recently announced a deal with Citibank (Hong Kong) Ltd. to offer its currency conversion service in Hong Kong and Macau.