Scotiabank Inverlat (Scotiabank Mexico) has announced its strategic alliance with Planet Payment to improve the efficiency and profitability of the Scotiabank Mexico ATM network and provide enriched services to international MasterCard cardholders.
Scotiabank Mexico will launch Bank in Your Currency, Planet Payment’s real-time currency conversion service across its network of ATMs throughout Mexico.
Bank in Your Currency, which is anticipated to be launched during November 2014, will allow international MasterCard cardholders to instantly view, select and manage the final withdrawal amount in their home currency instead of waiting for their bank or issuer to perform the conversion.
The currency conversion shift to the ATM will generate additional revenue opportunities for the bank by driving more traffic from international MasterCard cardholders.
The agreement with Scotiabank Mexico will debut Planet Payment’s currency conversion service in Latin America and Mexico.
Salvador Espinosa, vice president, Payments, Channels and Deposits of Scotiabank in Mexico, said: "With this dynamic and innovative currency conversion solution on our ATM network, we believe international cardholders will appreciate the service, and continue to return to our ATMs. Our country-wide ATM network has a strong presence in tourism locations, offering a safe and efficient service 24 hours a day."