FX Assured^® Terms & Conditions

• Qualified merchants participating in Planet Payment's Pay in Your Currency^TM service and specifically approved by Planet Payment may offer FX Assured® through participating acquiring banks. Merchants interested in offering FX Assured are invited to call us at 1.866.FX-ASSURED (1.718.FX- ASSURED from outside the U.S) or click to Contact Us.
• As of 10/15/05, FX Assured is available in the United States for cardholders whose Visa or MasterCard cards are billed in British Pounds Sterling, Canadian Dollars, Euros, Australian Dollars or Japanese Yen. Other countries and currencies may be added over time.
• If Planet Payment converts a transaction through the FX Assured service, it will be at an exchange rate calculated to be more favorable than the effective rate (including international usage fees), which would have been applied by the provider of the card on which the transaction is completed, if the cardholder had paid in the merchant’s currency.
• Credit card providers may charge travelers international usage fees (which may, or may not be separately identified on card billing statements) in addition to the currency conversion rate, when they use their card in a foreign country.  Planet Payment maintains a database of the known international usage fees of major credit card providers in the countries of the currencies supported under the service.  When our system identifies a card issued in one of the supported currencies, Planet Payment determines the international usage fee typically charged by the credit card provider.  In calculating the rate to be used in the particular FX Assured Transaction, which is based on the applicable wholesale or government mandated currency exchange rate for that date, Planet Payment applies a fee for its services, that is lower than the international usage fee recorded in our database.  If the card provider does not charge any international usage fee, then the rate used will be the same as the applicable wholesale or government mandated currency exchange.  Planet Payment thereby makes a good faith effort in all cases to calculate and charge a conversion rate that is lower than the effective rate, including international usage fees charged by the provider of the card used, for transactions performed in the merchant’s currency. As card providers may change their conversion rates and international usage fees without warning, Planet Payment may, on occasion, inadvertently charge a rate that is higher than the provider's effective rate.
• If a cardholder shows us that he would have obtained a better effective rate (including international usage fee) from his credit card provider, Planet Payment will honor the Best Rate Guarantee by paying the cardholder 150% of the difference between the amount he was charged at a participating merchant and the amount he would have been charged by his card provider if the transaction had been completed in the merchant’s currency. 
• To Submit a Claim under the FX Assured service, a cardholder must print out and complete the FX Assured Claim Form and follow the directions outlined within 120 days of the original purchase date.
• Cardholders should allow seven calendar days after submitting their claims for Planet Payment to verify. Planet Payment will send a confirmation with respect to each claim either to the postal address or email address provided by the cardholder. Any adjustments will be made directly to the card account number shown on the statement provided.
• NOTWITHSTANDING THAT A CARDHOLDER  MAY CHOOSE TO USE FX ASSURED, SOME CREDIT CARD PROVIDERS MAY STILL CHARGE A FEE FOR INTERNATIONAL CARD USAGE, EVEN WHERE THE TRANSACTION IS PERFORMED IN THE CARDHOLDER’S BILLING CURRENCY.  CARDHOLDERS SHOULD CONTACT THEIR ISSUERS TO ASCERTAIN IF THEY ARE ENGAGING IN THIS PRACTICE.  PLANET PAYMENT’S BEST RATE GUARANTEE DOES NOT COVER THESE ADDITIONAL FEES.
• A CARDHOLDER'S SOLE RECOURSE UNDER FX ASSURED IS SUBMISSION OF A CLAIM AS DESCRIBED HEREIN AND, ACCORDINGLY, IT IS UNDERSTOOD THAT ANY CLAIM OR DISPUTE IN CONNECTION WITH FX ASSURED DOES NOT PROVIDE A CUSTOMER WITH THE RIGHT TO INITIATE A CHARGEBACK WITH RESPECT TO AN FX ASSURED TRANSACTION. IT IS FURTHER UNDERSTOOD THAT PLANET PAYMENT'S DETERMINATION REGARDING THE VALIDITY OF A CLAIM IS FINAL.
• The FX Assured service is governed exclusively by these Terms and Conditions, which any cardholder wishing to use the service accepts by presenting his or her credit card for payment at a participating merchant and completing the transaction in the currency in which the cardholder is billed. Planet Payment is not responsible for, nor shall it be bound by, any statements or representations regarding the FX Assured service made by any third party, and no one is authorized to make changes to these Terms and Conditions.
• Please note that not all merchants that use Planet Payment's services, whether directly or through a participating financial institution, offer the FX Assured service.
• The FX Assured service may be cancelled at any time, without prior notification.
• The Terms and Conditions of the FX Assured service are governed by and construed in accordance with the laws of the State of New York and any disputes relating thereto shall be subject to the exclusive jurisdiction of the courts, Federal and State, located in the State of New York.