Paymentech Introduces Payment Acceptance in 150+ Currencies With Global Currency Management.DALLAS -- From the Albanian Lek For other uses, see Lek (disambiguation). The lek (plural lekë) is the currency of Albania (ISO 4217 currency code: ALL). It is subdivided into 100 qindarka (singular qindarkë), although qindarka are no longer issued. to the Zambian Kwach, Paymentech -- one of the nation's largest electronic payment processors -- announced today that it is making it easier than ever before for merchants to expand their businesses globally and accept payments in their customers' currency of choice. A new payment offering launching this month called Global Currency Management gives merchants the freedom to offer currency acceptance from around the globe, even without a local business presence. Paymentech's Global Currency Management enables Internet, catalog and recurring billing businesses to accept payments in more than 150 "presentment" currencies and to "settle" transactions in four popular currencies: the U.S. Dollar, the British Pound Sterling, the Euro and the Japanese Yen “Yen” redirects here. For the other use, see Yen (disambiguation). “JPY” redirects here. For the Australian singer with the same moniker, see John Paul Young. . "Our merchants conduct business all over the world, and we felt it was important to offer Global Currency Management, so no matter how their customers choose to pay, merchants can accept that payment. It's the easiest, fastest, most cost-efficient way to expand into the global market without establishing in-country banking relationships," said George White George White may refer to:
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , Paymentech. Benefits of Global Currency Management: --Merchants are not required to establish separate bank accounts and credit lines in each country where payments are accepted --Merchants can consolidate funds into one currency with a single banking entity for easier funds transfers and funds management --Merchants get a single file transmission of all currencies, real-time authorizations and complete chargeback Chargeback The charge a credit card merchant pays to a customer after the customer successfully disputes an item on his or her credit card statement. Notes: Customers dispute charges to their credit card usually when goods or services are not delivered within the management --Paymentech guarantees the exchange rate for each transaction, including chargebacks --Chargeback risk and customer disputes are greatly reduced, because merchants are able to bill customers in their local currency --The product is complimentary to merchants' efforts to localize lo·cal·ize v. lo·cal·ized, lo·cal·iz·ing, lo·cal·iz·es v.tr. 1. To make local: decentralize and localize political authority. 2. their marketing campaigns --Implementation is simple and does not require extensive development costs Additionally, Paymentech continues to offer same-currency processing (for both presentment and settlement) in 14 different currencies. About Paymentech Paymentech, L.P. is one of the largest payment processors for businesses accepting payments via traditional point of sale, Internet, catalog and recurring billing. The privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. , founded in 1985, is an end-to-end processor for merchants of all sizes and industries. Paymentech's 1,700 employees office in multiple locations, including the Dallas headquarters; New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ; Salem, N.H.; Tampa, Fla.; and Tempe, Ariz. In 2004, Paymentech and its Canadian affiliate, based in Toronto, processed 8.5 billion transactions and $200 billion in card volume. |
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