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London, UK – 10th of March 2025
Planet has been awarded Best Consumer Payment Solution at the FinTech Breakthrough Awards, a global program celebrating innovation and excellence in financial technology. This prestigious recognition underscores Planet’s leadership in revolutionising international payments through its seamless, all-in-one payment solution.
With international travel spending projected to reach $1.63 trillion in 2024 (WTTC) and global travel retail set to grow to $150 billion by 2027 (Vogue Business), the demand for flexible, frictionless payments continues to rise. Planet’s all-in-one solution addresses this growing need by integrating payments, currency conversion, and tax-free shopping into a single PAX device, eliminating inefficiencies and providing a smooth transaction experience for both merchants and consumers.
Merchants often face challenges with fragmented payment systems, relying on multiple providers and terminals to process payments and tax-free services separately. Planet’s solution streamlines this process, allowing retailers to offer a seamless, engaging, and revenue-driving payment experience. By enabling shoppers to reclaim VAT on purchases in a frictionless way, retailers can enhance customer satisfaction, increase brand loyalty, and drive higher sales.
One of the key advantages of Planet’s technology is its ability to automatically identify tax-free eligibility at the point of sale, providing real-time notifications and ensuring a smooth refund process. In addition, the Shopper Portal allows international customers to seamlessly submit and track their tax-free refund requests, reducing the complexities of manual refund processes and enhancing transparency. This industry-first approach has already delivered significant improvements in operational efficiency, helping merchants save time while boosting turnover at checkout.
With 90% of international consumers preferring to pay in their home currency and 86% of Chinese shoppers favoring Alipay and WeChat Pay, offering flexible payment options is no longer just a convenience - it is a necessity. Planet’s Dynamic Currency Conversion (DCC) and Multi-Currency Pricing (MCP) capabilities ensure that merchants can cater to these preferences, leading to increased conversions and a more personalised customer experience.
As a leading provider of tax-free shopping solutions, Planet operates across a vast network of merchants and partners with some of the world’s most prestigious retail brands. Through continued expansion and strategic investments in consumer payments, we reinforce our position as a trusted partner for retailers worldwide.
Winning the Best Consumer Payment Solution award at the FinTech Breakthrough Awards is a testament to Planet’s pioneering approach to payment technology. By tackling long-standing industry challenges and delivering a frictionless, future-ready solution, Planet continues to empower retailers worldwide, helping them maximise revenue, improve operational efficiency, and elevate the customer experience.
About Planet
Planet is a global leader in integrated payment and software solutions, designed to meet the unique needs of the retail and hospitality industries. We streamline payment processing and optimise software solutions, enabling businesses to enhance operational efficiency, improve customer engagement, and drive revenue growth.
With over 35 years of expertise, we empower businesses to boost customer loyalty, save time, and increase profitability by seamlessly combining payments and software in a way that accelerates their success.
Headquartered in London, Planet employs over 2,500 professionals across six continents, serving customers in over 120 markets worldwide.
For more information, visit: www.weareplanet.com
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