Network International and Planet Payment Announce Agreement with Ahli United Bank to Launch Pay in Your Currency® in Bahrain

Network International, the leading payment solutions provider in the Middle East and Africa (MEA), and Planet Payment, Inc. (NASDAQ:PLPM), a leading international and multi-currency payment processor, launched Pay in Your Currency®, Planet Payment’s Dynamic Currency Conversion solution, in Bahrain, with Ahli United Bank (AUB), Bahrain’s leading bank. 

The agreement builds upon the strategic alliance between Network International and AUB, announced in 2012, to deliver a comprehensive merchant acquiring solution for AUB’s portfolio of merchants. With the new ‘Pay in Your Currency’ facility, AUB’s merchants have the ability to offer eligible international customers the convenience of paying for their purchases in their own currency. With this personalized payment solution, merchants will still receive funding and settlement in Bahraini Dinar while delivering enhanced customer service and reducing the cost of payment card acceptance.

With over ten million international visitors to Bahrain in 2015, the country represents a ready market for Pay in Your Currency. Pay in Your Currency provides AUB’s merchants with a new tool to cater to this growing market of international visitors and differentiate themselves among other merchants.

“Pay in Your Currency provides our merchants with an innovative solution that will help them better serve the growing number of international visitors to Bahrain,” said Abdulla Al Raeesi, Deputy Group CEO, Retail Banking, Ahli United Bank. “Thanks to our partnering with Network International and Planet Payment, we are delighted to bring this multi-currency solution to our merchants. AUB will continue to offer innovative and state-of-the-art value added services to our merchants to be the card acquirer of choice in Bahrain.”

“Network International is deeply committed to offer merchants and customers innovative and convenient payment solutions. We are excited to now launch this service with our processing partner, Ahli United Bank in Bahrain,” said Bhairav Trivedi, Group Chief Executive Officer, Network International. “We have seen proven success with this solution in other areas of the Middle East, and the time is right to bring this multi-currency solution to Bahrain.”

“Planet Payment is pleased to expand our long-standing partnership with Network International to bring Pay in Your Currency to Ahli United Bank’s merchants in Bahrain,” said Jonathan Ellis, Managing Director, EMEA at Planet Payment. “We believe that Pay in Your Currency delivers solid benefits to both merchants and their customers and we look forward to the roll-out of our solution across AUB’s portfolio of merchants.”