The Pay in Your Currency service, dubbed the Dynamic Currency Conversion, enables international cardholders using eligible cards to see the final amount of a cash withdrawal in their home currency at the time of the transaction. When the cardholder opts for transaction conversion, the amount in their local currency that they see on the ATM screen is the exact amount that will appear on their financial institutions account statement.
Powered by Planet Payment, the service will serve 11,000 ATMs which Fifth Third Processing Solution manages on behalf of their current customer base of almost 2,000 financial institutions across the US.
Both companies have offered the service to the retailers in the US market since 2004. Planet Payment provides banks and its merchants services to accept, process and reconcile payments in any currency.
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