Standard Chartered Bank (Hong Kong) Limited has announced an initiative to facilitate integrated payment solutions for hospitality and retail merchants located within Hong Kong, China and Macau. Planet Payment, a leading international multi-currency payment and data processor, will be serving as the regional transaction switch to Standard Chartered in connection with the initiative.

Currently, most merchants in the Greater China Region utilise a stand- alone credit card terminal to process transactions, which operates independently from the merchant’s other business management solutions, such as property management systems. Now, with Standard Chartered’s solution, merchants can integrate their credit card processing functionality directly with these business management solutions. The benefits of integrated solutions may include the streamlining of business operations by allowing for easier reporting and reconciliation of card transactions and reduction of operating costs through elimination of multiple credit card terminals and supporting phone lines at the point-of-sale.

In addition to supporting the processing of domestic Visa and MasterCard transactions, the solution will also support Standard Chartered’s Dynamic Currency Conversion service, powered by Planet Payment, which provides customers with the convenience and certainty of paying in their home currencies based upon a real-time conversion performed at the point-of-sale. ( Yahoo News )

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