Planet Payment, Absa launch a Multi-Currency Pricing Solution in South Africa

Planet Payment and Absa are launching Planet Payment’s Multi-Currency Pricing (MCP) Solution with Xpressa in South Africa.

With this new implementation, Absa is continuing to expand its offering of Planet Payment’s MCP solution. It enables online merchants to target new global markets by allowing international customers to view pricing and pay in their home currencies, simplifying the shopping experience. Merchants continue to receive settlement in South African Rand as they do today.

The goal of MCP is to help merchants increase global sales by achieving a higher conversion rate of international browsers to customers. It also helps reduce customer service inquiries and chargebacks, while offering a value-added service to customers shopping internationally.  Xpressa will be offering MCP to its portfolio of merchants across the region.

“We look forward to working with Planet Payment and Absa Card to offer our merchants all the value propositions this solution has to offer,” said Ian Pitman, Managing Director at Xpressa. “For merchants looking to expand their markets internationally, this is an essential tool to driving global sales, with the convenience of still receiving settlement in South African Rand.”

“When we initially partnered with Planet Payment in 2010, Absa became the first local bank to implement Pay in Your Currency^®, also known as Dynamic Currency Conversion, and we look forward to further entrench this relationship as we expand the MCP offering to Xpressa’s merchant portfolio in the region,” says Geoffrey Lee, head of Absa Card.

“We are thrilled to continue the expansion of our multi-currency solutions with Absa Card,” said Jonathan Ellis, Managing Director, EMEA, at Planet Payment. “We believe personalized pricing is crucial to a successful global expansion strategy for online merchants. We are pleased to be able to offer our solution to Xpressa’s impressive merchant base.”