Sao Paulo-based Cielo and Planet Payment Inc. have signed a contract extension regarding their Pay in Your Currency processing agreement that allows transactions in multiple currencies, letting consumers in Brazil pay in their own currency.
“Planet Payment is excited to extend its partnership with an industry leader like Cielo,” Planet Payment Senior Vice President for the Americas Pete Ellis said. “We are eager to continue working hand in hand with Cielo to expand the Pay in Your Currency offering in Brazil and support existing merchants in the region.”
The currency conversion is mostly used for merchants in Brazil. International travelers can use their Visa or Mastercard for transactions with Brazilian stores and merchants.
Both companies are expected to benefit from the three-year extension as tourism in Brazil is expected to grow.
“As tourism in Brazil continues to grow, we strongly believe in the benefits of Pay in Your Currency for both our merchants and their international customers,” Cielo Vice President of Products and Business Development Dilson Ribeiro, said. “We are looking forward to our ongoing partnership with Planet Payment to continue the roll out of this solution to our merchants in Brazil.”