Planet Payment and Servebase Launch FX Assured Personalized Pricing Service

Planet Group and Servebase Computers has launched the European Planet Paymentâ€â„¢s FX Assured personalized pricing service. FX Assured, which has been available in the United States since October 2005, offers international travellers using their Visa and MasterCard branded cards the ability to pay for goods and services in the currency they understand best †their own †while receiving a guarantee that they will pay the best conversion rate available to them.

The engine behind FX Assured is Planet Payment’s patent-pending technology, delivered initially by Servebase, which identifies the exchange rate that would have been applied by each traveller’s card provider and then automatically converts the transaction at a lower rate. Planet Payment’s “Best Rate Guarantee” promises that if the rate is less favorable than the rate the traveller’s card provider would have used, Planet Payment will pay the customer 150% of the actual difference in cost. Before the introduction of Dynamic Currency Conversion (DCC), international customers paying by credit card had to wait for their statements to learn the actual costs of their transactions. Now, with FX Assured from Planet Payment and Servebase, customers can know the cost in their home currencies before they even leave the store, restaurant or hotel. Plus, they’ll enjoy a conversion rate that is calculated to be better than the rate their card provider would have charged for the same transaction.