Mexican financial institution BBVA Bancomer has entered into a multi-currency processing agreement with Planet Payment, a provider of international and multi-currency payment processing services.
Additionally, Planet Payment is planning to launch an integrated payments hospitality solution for BBVA Bancomer’s mercantile customers in Mexico.
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Under the agreement, Planet Payment’s Dynamic Currency Conversion (DCC) service, Pay in Your Currency, will be integrated into the hospitality solution, as well as BBVA Bancomer’s point-of-sale terminals in 2016.
The payment solution has been designed to support the Oracle Hospitality / MICROS suite of hospitality products, including OPERA, 3700, 9700 and Simphony POS systems.
The solution will enable hotels to streamline their back-office reconciliation process by creating a single solution integrating the hotel’s payment processing with their property management system.
The product will include enhanced security and fraud features such as encryption and transaction tokenization, to reduce merchant’s PCI burden.
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By GlobalDataBBVA Bancomer corporate director of credit and payments solutions Ing. Alejandro Pineda Mosiño said: "These solutions allow our merchants to offer enhanced service to their guests and benefit from more streamlined payment processes."
Planet Payment senior vice president sales operations Americas Seth Asofsky said: "We are thrilled to be working with Bancomer to further our presence in Mexico."
