ATM vendor Payment Alliance International will offer foreign travelers in the U.S. the ability to view real-time currency conversions through a technology partnership with payments processor Planet Payment.
Users will be able to view, select and manage currency conversions from the U.S. dollar amount dispensed at ATMs into their home currency, the companies said in a joint press release Dec. 12.
Louisville, Ky.-based PAI will implement the feature in its nationwide network of more than 60,000 ATMs. The company said the move dovetails with its impending EMV migration initiative and creates an enhanced experience for international travelers by providing the final withdrawal amount in their home currency at the time of the transaction, as opposed to waiting until their bank or issuer performs the conversion.
“With the number of visitors to the United States growing each year, we think this program allows our retail customers to offer another convenient shopping advantage,” said PAI CEO John Leehy III, in a release.
In addition to its “Bank in Your Currency” product, New York-based Planet Payment offers its currency conversion technology to merchants who want to provide e-commerce price conversions to online shoppers and point of sale conversions for in-person payments, like settling a hotel bill.