Planet Payment, a US-based multi-currency payment and data processor, has entered an agreement with Micros Systems, a provider of information technology services for the hospitality and retail industries, to add support of China UnionPay, a Chinese bank card organisation, to the Micros payment gateway. The service is set to be launched in Q2 2012.
As a result, merchants using the Planet Payment hosted Micros payment gateway will be able to process UnionPay credit and debit cards directly via their Micros property management or point-of-sale system. The Planet Payment Micros payment gateway also features encryption and transaction tokenization capabilities. The service will support Planet Payment's Pay in Your Currency (PYC) service, also referred to in the industry as Dynamic Currency Conversion (DCC). With PYC, Micros customers allow international guests to pay in their home currency.
The Micros payment gateway provides integrated payment support for the Micros suite of enterprise hospitality products, including OPERA, MICROS e7, MICROS 3700, MICROS 9700 and Simphony. The Micros payment gateway has been integrated within Planet Payment's data center and processing platform, providing any acquirer or processing customer using Planet Payment's global platform with access to this integrated Micros services.
In most regions, merchants currently use stand-alone terminals to process UnionPay cards. Via the Planet Payment Micros payment gateway, UnionPay card transactions are processed directly through the Micros point-of-sale systems, allowing hoteliers to accept UnionPay credit and debit cards, as well as all other major payment types including Visa, MasterCard, American Express, Diners, JCB and Interac, a debit card program in Canada.
Since its inception in 2002, China UnionPay has issued more than 2.8 billion cards worldwide. In 2011, Chinese consumers were expected to spend USD 55 billion overseas.
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