Planet Payment: what it does, who it's built for, and what to check before choosing it
A name you probably know mostly if you work with international tourists. Here's why.
If you run a business that deals a lot with international customers, tourists in particular, you've probably already come across the name Planet Payment: it's one of the best-known providers of tax-free shopping and multi-currency payment services designed for exactly that segment. Here's what it actually offers and when it's worth considering.
Planet Payment's specific positioning
Planet Payment has built its reputation mainly in tourist retail and hospitality, with services tied to tax-free shopping (VAT refunds for non-EU tourists) and Dynamic Currency Conversion for foreign customers.
It also offers more generic payment solutions (POS, online gateway), but its distinctive strength remains its specialisation in the international customer.
Who should consider it
Boutiques, luxury shops, and retail chains in high-tourist-density areas, where tax-free shopping is a frequently requested service.
Hotels and venues hosting many international guests who want to offer payments in the customer's home currency as an added service.
What to compare before choosing
If your audience is mainly local or European, Planet Payment's specific international-tourist services might not justify the cost compared to a more general provider.
Always check the currency conversion (DCC) fees: they're often higher than a standard exchange rate, and should be clearly disclosed to the customer for transparency.
- Planet Payment specialises in services for international tourist customers: tax-free and currency conversion.
- It makes the most sense for luxury retail, tourist boutiques, and hotels with international clientele.
- If your audience is mostly local, a general provider is often more cost-effective.
- Currency conversion fees should always be checked and clearly communicated to the customer.
- Choosing a provider specialised in international tourism if your audience is mainly local.
- Not clearly communicating currency conversion fees to the customer.
- Not comparing total cost with general providers if you don't actually need tax-free services.
Frequently asked questions
It's the service that lets non-EU tourists claim a VAT refund on purchases made in Europe, managed through a digital process at the time of purchase.
It's the option for a foreign customer to see and pay the amount directly in their home currency instead of euros, with an exchange rate applied at the time of the transaction.
Only if the shop has a significant flow of international tourist customers; otherwise a general provider usually offers simpler, more convenient terms.
A payment solution tailored to your audience
Daevon helps you understand whether you need a general or a specialised solution, based on your real customer profile.
