An average of 3% is added to the value of each credit card transaction made in a foreign country.

Credit cards are used to pay for over $5 trillion worth of goods and services a year. About 4% of this is spent in foreign currencies. This means banks make $6 billion a year on foreign currency transactions.

Tom Bulford in Penney Sleuth UK says Planet Payment (LON:PPTR), a £30m company with a quote on AIM, aims to tap into this market. And, if the company can maintain its growth, it’s certainly one to watch…