- SOFORT Bank Selects FEXCO as cross-border online payment transactions partner
- FEXCO Hosts Awards Event for Long Serving Staff
- Outstanding Achievement in Business awarded to Brian McCarthy
- Minister Joe Costello opens FEXCO Brazil Office during Trade Mission
- CCA Excellence Awards 2012 FEXCO shortlisted in three categories
- FEXCO is a global leader in International Payments and Transaction Processing
- Wide-ranging collaborative partnership which will facilitate and simplify e-commerce transactions with non-Eurozone countries for users of SOFORT Banking
Kerry and Gauting, 4th February 2013. SOFORT Bank, an e-commerce bank specialising in business companies, has selected leading financial transactions services provider FEXCO as its partner in the provision of cross border online payment transactions. Users of SOFORT Banking will benefit since SOFORT AG’s direct transfer transactions will now be even more universally usable at international level. The partnership with FEXCO will simplify payments between countries with different currencies, such as Great Britain and Germany. In future people will conveniently be able to use their own currencies for SOFORT Banking transactions even if the purchase is being made in a foreign currency.
“Europe is growing ever closer together – only when it comes to payment transactions are we still a long way from an internal market. By partnering with FEXCO, a global leader in financial transactions services, this is an important step for us in the direction of a unified European payment area. Through it we are making it easier for our traders to penetrate markets in countries with different currencies“, explains Dr. Gerrit Seidel, CEO of SOFORT AG and SOFORT Bank.
The system offers many practical advantages. For instance, a British customer can make purchases in a German shop while conveniently paying in his or her own currency, pounds sterling. The German merchant meanwhile receives the sum in euros, with the entire process running automatically in the background. End customers in the eurozone will also benefit from the new functionality, as it means that Europe-wide money transfer remain possible even when the SEPA online banking function is unavailable. “No other direct money transfer procedure in Europe offers a comparable feature. It means SOFORT Banking will become even more universal, and more than just an alternative to e-wallets and credit cards. Rather, it will broaden merchant’s potential customer bases since a lot of people in Europe do not possess credit cards or e-wallets, or are unwilling to use them because of security concerns”, Seidel continues.
In FEXCO, SOFORT Bank has joined forces with a partner who is a leading provider in the transaction processing field. FEXCO Corporate Payments (FCP) enables SOFORT Bank to offer an enhanced cross-border transfer facility to those merchant clients who have a bank account with SOFORT Bank.
“We are greatly looking forward to partnering with SOFORT AG. The company is one of the leading providers in the e-payment area, and together we will be able to grow and improve the efficiency of cross-border Internet merchandise transactions” commented Gerard O´Sullivan, a member of FEXCO’s Executive Management team. “FEXCO Corporate Payments will provide cross border clearing and settlement on behalf of Sofort Bank through our platform and banking partner.”
Surveys reveal that SOFORT Banking is one of the most economical and frequently used of all e-payment methods. The method is used by over 25,000 merchants in eight countries: Germany, Austria, Switzerland, Italy, Netherlands, Belgium, Poland and United Kingdom.
About SOFORT AG and SOFORT Bank
With its payment systems SOFORT Banking/SOFORT Überweisung, Rechnung by SOFORT, SOFORT Lastschrift and the online verification system SOFORT Ident, SOFORT AG offers innovative products for the safe purchase of goods and digital products on the Internet. The company is based in Gauting near Munich, and its product SOFORT Überweisung has made it Germany”s market leader in direct transfer transactions. More than 25,000 eCommerce retailers conduct more than 2.5 million transactions monthly using SOFORT Überweisung. As well as Germany, the service can also be used in Austria, Switzerland, the Netherlands, Belgium, Italy, Poland and the United Kingdom.
SOFORT Bank is a brand of Deutsche Kontor Privatbank AG. Deutsche Kontor Privatbank AG is the bank that manages the assets of the Reimann family of entrepreneurs, and cooperates closely with the Family Office, Reimann Investors Advisory GmbH. As a commercial bank, SOFORT Bank has been offering solutions since 2010, with which eCommerce businesses can optimise their transaction processing.
Established in Ireland in 1981 FEXCO is Ireland’s leading privately owned financial services company, employing over 1700 people across its operations in Europe, the Americas, the Middle East and Asia Pacific. Over its thirty year history, FEXCO has become an internationally recognised specialist provider of Financial Transaction Processing, Foreign Exchange and Outsourcing Services.
Through its commitment to innovation, project delivery and customer service, the company has built an enduring, international network of partners and customers through which it delivers its broad range of products and services. The company is financially strong and is pursuing an ambitious domestic and international growth strategy.
The FEXCO Corporate Payments Division (FCP) is engaged in the business of providing corporate payment services and it is authorised in Ireland under the European Communities (Payments Services) Regulations 2009 as a payment institution. FCP will provide cross border clearing and settlement on behalf of Sofort through its international payments platform, while also providing real time FX conversion during the transaction process.
SOFORT AG press contact: FEXCO press contact:
Thomas Doriath Nuala Buttner (Q4 PR)
Tel: +49 (0)89 / 89 35 63 – 54 Tel: +353 (0)1-479 0362
Fax: +49 (0)89 / 89 39 84 – 29
Killorglin based global financial services company FEXCO hosted a special Service Awards event in the Brehon Hotel, Killarney on Thursday, 22 November to officially recognise the contribution to the business of its longest serving members of staff. 56 staff with over twenty years of continuous service with FEXCO were honoured at the event, which was also attended by FEXCO Board members and senior management.
Established by Brian McCarthy in 1981, FEXCO is today an internationally admired & respected organisation, employing 1700 people across its operations in Ireland, the UK, the USA, Asia Pacific, the Middle East and Australia.
FEXCO values the contribution its highly skilled and dedicated workforce has made to the country and was keen to recognise the contribution that long serving staff members have made to the success of the company, enabling it to develop into the global force it is today. Of the 56 staff who received long service awards at the ceremony in the Brehon Hotel, 3 staff members have been with the company for 31 years 10 people have between 26 and 28 years’ service, 8 have been with the company for 25 years, and 35 members of staff have between 20 and 24 years’ service.
Over its thirty year history FEXCO, has been a true pioneer and innovator in the broad arenas of Global Payments, Foreign Exchange, Tourism Related Financial Services, Transaction Processing, Managed Services and Business Process Outsourcing (BPO).
FEXCO occupies market leading positions in a number of geographies and across various products within its portfolio. Its businesses receive regular industry recognition and have received numerous international awards for its contact centres, credit card transaction processing as well as its stockbroking activities. The company maintains close links to the communities in which it operates and is committed to creating and maintaining sustainable employment in these communities.
Speaking at the awards event, Brian McCarthy, Founder and Chairman of FEXCO, congratulated the 56 FEXCO staff, saying “I am personally delighted to make these presentations tonight on behalf of FEXCO, in recognition of your commitment and loyalty to the company. Together, we have built a strong company which has achieved great things in the global market and FEXCO is very proud of your contribution to this achievement. I hope this award will serve as a reminder of your loyalty and dedication and I look forward to our continuing to work together towards the shared goal of the continued success of FEXCO and all its employees.”
FEXCO’s extensive portfolio of businesses today includes Currency Exchange, International Payments, Dynamic Currency Conversion, Property Management, BPO and Secure Financial Administration including the administration of the Prize Bonds scheme on behalf of the Irish National Treasury Management Agency.
‘Outstanding Achievement in Business’
Brian McCarthy, FEXCO
Business man Mr Brian McCarthy, Executive Chairman, FEXCO was presented with an Outstanding Achievement in Business award at Cork Chamber’s Dublin Dinner, in association with Ernst and Young, at the Burlington Hotel tonight.
With over 450 people in attendance, the event promotes the strong connections that exist between Cork and Dublin and provides a unique opportunity for companies based across the two regions to network with their peers.
Brian McCarthy started his career with Allied Irish Banks where he worked for almost 20 years before setting up Fexco in Killorglin, Co Kerry and since then it has grown to be Irelands most successful privately owned financial services company employing 1700 people across its operations in Ireland, the UK, the USA, Asia Pacific, the Middle East and Australia. The company is financially strong and continues to grow demonstrated by its recent acquisition of Ireland’s leading stock broking firm, Goodbody, in 2011 and a leading UK FX and payments company No1 Currency earlier this year.
As a result of this success Cork Chamber is delighted to honour Brian McCarthy with an Outstanding Achievement in Business award for his many successes and contributions to business in Ireland and overseas.
Speaking from the event, Mr John Mullins, President, Cork Chamber said, “We are pleased to bring this unique event to the corporate calendar, as an occasion for representatives of our two largest economic regions to network and to celebrate successes of Cork and Dublin based businesses”
Adding “Cork Chamber are delighted to have the opportunity to acknowledge the outstanding role that Brian McCarthy has played in both the national and international business community.”
John Higgins, Partner at Ernst & Young commented, “We are proud to be associated with this important business event. Cork has a tremendous mix of indigenous industry, multinational companies and SME’s. In particular, indigenous companies in the Agri- food sector should have a great opportunity over the next decade to play a crucial role in driving economic growth and recovery.
John also commented “Cork is also home to many leading entrepreneurs. We have been privileged to have a ringside seat to entrepreneurial companies based in Cork through Ernst & Young’s Entrepreneur of the Year programme.”
Finally John commented, “As a previous winner of the Ernst & Young International Entrepreneur of the Year award, Brian McCarthy epitomises the entrepreneurial spirit that will drive our country forward”.
FEXCO, opened its new office in Brazil during Ireland’s trade mission to the South American country. The Trade Mission, organised by Enterprise Ireland and led by Minister for Trade & Development, Joe Costello, T.D., coincided with President Higgins’ official state visit to Brazil.
Kevin Sherry (Head of International Sales & Partnering, Enterprise Ireland), President Michael D. Higgins, Cesar Kamiya (Head of Business Development, Latin America , FEXCO) and Joe Costello TD (Minister for Trade and Development).
Minister Joe Costello T.D. opened FEXCO‘s 11th global location in São Paulo, Brazil, on the second day of the trade mission. As well as its Irish base, FEXCO also has operations in China, Singapore, Hong Kong, Germany, Australia, New Zealand, UAE, France, Japan, USA, and UK. The new FEXCO Brazil office will oversee the company’s expansion into Brazil and the wider Latin American market.
FEXCO is a world leader in the global payments services sector, developing a range of best in class currency conversion, transactional and global treasury products. Over the course of its 30 year history, FEXCO has become a market-leading provider of Foreign Exchange treasury management services to merchants and acquiring banks worldwide. The company was the first to develop and introduce dynamic currency conversion (DCC) and today, via this product alone, FEXCO has over 45,000 customers globally.
Brazil is the world’s 6th largest economy and continues to grow. Tourism in Brazil, which is also Latin America’s largest economy, is a growing sector and key to the economy of several regions of the country. In terms of the international tourist arrivals, Brazil ranked as third most popular destination in Latin America after Mexico and Argentina, which provides significant opportunities for FEXCO’s currency conversion products, such as DCC and MCP in the wider Latin American market.
Through commitment to partnership, product innovation, and customer service, FEXCO has built an enduring international network of partners and customers across the globe. The company will continue to push forward with this partnership approach as it expands into the Latin American region. Speaking about the opening of the company’s Brazil office, Denis Cleary, Global Head of Dynamic Currency Conversion for FEXCO, said “We are very excited about the potential the Brazil market holds for FEXCO. The country’s strong growth in its international business travel & tourism sector is particularly attractive for us. FEXCO is well positioned to take advantage of the predicted growth in international tourism numbers, with currency conversion products at the heart of our offering. FEXCO is investing in this region to capitalize on the opportunities the region presents and with the confidence in our ability to successfully deliver our products here. This new regional office will serve as a platform for further expansion of FEXCO’s presence across Latin America”.
Commenting on FEXCO’s expansion into Brazil, Minister Costello said: “This is an excellent development for Irish businesses in Brazil. I was delighted to officially open the Brazil office of FEXCO on this trade mission to Brazil. FEXCO, a highly innovative foreign exchange and company, is demonstrating the influence and impact that Irish companies can have in Brazil and the South American market.”
Kevin Sherry, Head of International Sales and Partnering with Enterprise Ireland said:
“FEXCO’s international expansion over recent years is nothing short of impressive and is a leading example to other Irish companies as to what can be achieved by an Irish services company. This latest office opening in Brazil is another significant achievement for the company that will allow them significant access to the opportunity that this rapidly growing market presents.”
Dublin, 6th August, 2012. FEXCO has been shortlisted for CCA Excellence Awards 2012 in the following categories:
Most Effective Training Programme – FEXCO, Best Outsourcing Partnership – FEXCO & Bord Gáis Energy, Contact Centre Team of the Year: B2B – Businesslink, Bord Gáis Networks (more…)
Issued 9 July, 2012. FEXCO, the Kerry based outsourcing and payments company, has been shortlisted, with its partner, Bord Gáis Networks, for two prestigious European Call Centre awards. Since 2008 Fexco has provided outsourced contact centre services to Bord Gáis Networks. Designed to demonstrate the best examples of exceptional service across Europe, The European Call Centre & Customer Service Awards ceremony will take place in London in October. The two categories in which FEXCO and Bord Gáis Networks have been shortlisted are; Frontline Team of the Year for the Bord Gáis Networks Meter Replacement Programme and Best Small Contact Centre of the Year (less than 100 seats).
FEXCO has been providing call centre outsourcing solutions to Bord Gáis Networks for a number of years and to date both companies have already won numerous Irish and UK call centre awards for their collaboration. In 2009, FEXCO and Bord Gáis Networks won the CCA (Customer Contact Association) top industry accolade of Best Customer Experience in the Sector Utilities and Telecoms and Overall Team of the Year in the UK and Ireland respectively. In 2010, the partnership won Contact Centre of the Year at the CCMA (Contact Centre Management Association). The Irish judging panel highlighted that the two companies “put the customer at the very heart of the organisation in order to drive exemplary customer service and business efficiencies.”
FEXCO is one of Ireland’s largest indigenous outsourcing providers, which provides high quality, scalable business services to the Irish and international markets by building sustainable outsourcing solutions and developing customer partnerships. The company has provided contact centre services to private and public sector customers for the past 25 years. FEXCO manages several contact centres in Kerry, which employ more than 400 customer service representatives, and answers more than two million telephone calls every year.
“Partnership and collaboration are the hallmarks of FEXCO’s approach to building successful and enduring outsourcing solutions. The outstanding success of our contact centre teams and individual employees in both the UK and Irish industry awards underlines how executing this approach effectively allows us to deliver on our commitments and grow in partnership with our customers. Bord Gáis Networks is one of our most valued clients and we constantly strive to improve our services, ensuring that their customers experience a superior, seamless and efficient service,” said Ger O’Sullivan, Head of Business Services, FEXCO.
John Barry, Managing Director of Bord Gáis Networks, said: “We are delighted to be shortlisted for these two European awards with our contact centre partners, FEXCO, a reflection of our successful partnership in delivering excellent service to our customers. The contact centre is positioned at the very heart of our organisation, with the objective of providing easy access for customers, focus on achieving “First Call Resolution” and to be the voice of the customer by providing intelligence back to the business in order to drive process improvement. We are hopeful of building on the Irish and UK accolades already received, which underline the success of this partnership and the hard work of the staff of Bord Gais Networks and FEXCO.”
For further information contact:
Q4 Public Relations
Tel: +353 (0)1 4751444 / +353 (0) 85 1744275
Communications Manager, Bord Gáis
Tel: +353 (0) 21 453 4089 / +353 (0) 87 638 1593
Patented Solution to Provide Consumers Choice and Transparency when Withdrawing Cash Abroad
DUBLIN and ATLANTA, June 28, 2012 – FEXCO, an Irish-based specialist provider of financial transaction processing and the originator of Dynamic Currency Conversion (DCC), and First Data Corporation, a global leader in electronic commerce and payment processing, today announced that the companies plan to launch FEXCO’s patented ATM DCC Solution in the U.S., Mexico and Australia.
The joint DCC ATM solution provides consumers the ability to make an informed decision regarding exchange rate fees. It offers consumers a choice to transact in either the local currency or in the billing currency of their bank card. The patent covers the technology in the U.S., Mexico and Australia, with plans to expand this patent into other markets around the world.
“As the inventor of DCC, FEXCO works continuously on new ways to offer the DCC service,” said Dermot O’Shea, managing director for FEXCO Merchant Services. “FEXCO supports the idea that a positive ATM experience fundamentally contributes to consumer loyalty. With First Data’s vast experience and scale in the U.S. market, we are confident that working with them to bring the patented solution to the U.S. will result in an enhanced customer experience further adding value and increasing customer loyalty for our collective clients.”
FEXCO’s DCC solution offers international travelers the choice to withdraw cash at an ATM in the local currency while viewing the exact cost of the transaction using a competitive exchange rate in their home currency. If the cardholder chooses the DCC billing option, the ATM generates a receipt providing full visibility to the consumer, including:
• Itemized transactions in the local currency
• Total transaction amount in the currency of the cardholder’s bank-issued card
• The DCC exchange rate applicable at the time of the cash withdrawal
CEB TowerGroup in 2012 reported that 72 percent of an average customer’s interactions with a financial institution will come through ATM or online channels, making these self-service delivery channels not just a great service and a convenience for customers, but a primary point of banking interaction.
DCC offers more than just the convenience of currency conversion at the point of transaction. It also eliminates much of the consumer’s guesswork related to exchange rates and fees. Also, DCC promotes a greater transparency of the true value of goods and services in the cardholder’s home currency.
For the past 10 years, First Data and FEXCO have jointly offered DCC services at the point of sale (POS) for merchants all over the world.
“By partnering with FEXCO, we have the best DCC solution for both point of sale and ATMs globally,” said Fred Gore, SVP and division manager, eCommerce Solutions, First Data. “The patented DCC ATM solution will provide our financial institution clients with a valuable solution that will enhance their customers’ user experience with currency options that are accurate, competitive, and easy to understand at the ATM.”
Compliant with card association rules, FEXCO and First Data’s DCC offering incorporates an end-to-end solution that includes:
• Project and systems management and platform certification to ensure integration with ATMs
• Turnkey training and awareness programs
• Easily brandable consumer marketing and communications for ATM messaging
FEXCO is a specialist provider of Financial Transaction Processing, Foreign Exchange and Outsourcing Services. FEXCO is a global leader in the provision of Dynamic Currency Conversion (DCC) and currently provides its solutions to over 45,000 merchants globally in conjunction with 30 acquiring banks. The DCC provider of choice to merchants from all sectors, FEXCO processes over $10 billion in DCC transactions annually, generating significant value for its customers. FEXCO operates offices in China, Singapore, Hong Kong, Australia, New Zealand, Dubai, USA, UK and Ireland.
About First Data
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.
Johanna Waara, FEXCO
+353 87 765 1771
Cara Crifasi, First Data
+1 303 967 6367
FEXCO continues as the preferred supplier of DCC solutions to First Data
DUBLIN, IRELAND, April 30, 2012 – First Data Corporation, a global leader in electronic commerce and payment processing, and FEXCO, a specialist provider of Financial Transaction Processing, Foreign Exchange and Outsourcing Services, today announced an agreement whereby First Data acquired the remaining equity stake in OmniPay, a global provider of card and electronic payment processing services to merchant acquiring banks, bringing First Data’s ownership to 100 percent. First Data has had an equity investment in OmniPay since 2002 and took a majority equity interest in the company in August 2006.
As part of this transaction, those partners of FEXCO who today utilise the OmniPay platform will continue to enjoy uninterrupted access to it. New partners of FEXCO who wish to use OmniPay will also have access to this award-winning platform. The parties also announced that they have entered into a long-term agreement whereby FEXCO continues as First Data’s preferred supplier of dynamic currency conversion (DCC) processing solutions.
“First Data’s decision to acquire the remaining 30 percent of the equity in OmniPay is a strong endorsement of the company and what it has achieved in the marketplace, as well as being a natural evolution of our long-term relationship with FEXCO. The OmniPay platform will be key to supporting First Data’s alliances and other strategic business units,” commented John Elkins, President of First Data’s International Regions. “First Data looks forward to deepening its business relationship with FEXCO in DCC and related services. This transaction allows First Data to follow its strategic objective of bringing the OmniPay platform into its technology portfolio.”
“This agreement, which allows FEXCO to realise its investment in OmniPay is a win-win situation for all parties,” commented Dermot O’Shea, Executive Director of FEXCO. “Under this agreement, FEXCO’s global banking partners will continue to enjoy uninterrupted access to this market-leading platform. At the same time, FEXCO will continue to focus on innovative payment products alongside our core, fully-managed DCC service. The signing of a long-term agreement for the provision of DCC to First Data and its customers strengthens our 12-year relationship and puts FEXCO in an even stronger position to offer our DCC services within the First Data portfolio and beyond.”
Johanna Waara, FEXCO
+353 87 765 1771
Nuala Buttner, Q4 PR on behalf of FEXCO
+353 85 174 4275
Gerard Lysaght, First Data
+44 1268 297 032
Issued 24 April, 2012. FEXCO has won a new contract from Aer Lingus for the provision of call centre services to the airline. The Co. Kerry based company was selected by Aer Lingus following a competitive tendering process, and the contract runs from now until January 2015. FEXCO will create 25 new jobs to service the new Aer Lingus contract, located at FEXCO’s Contact Centre in Caherciveen, Co. Kerry. FEXCO will provide call centre support 7 days a week to Aer Lingus customers.
Based in Kerry, global payments organisation FEXCO is also one of Ireland’s largest indigenous outsourcing providers. The company has a strong track record in outsourcing, and has been offering secure outsourcing solutions to a range of Irish and UK companies since 1984, in both the public and private sectors. FEXCO already has a long standing relationship with Aer Lingus, through the provision of dynamic currency conversion (DCC) services. FEXCO is a global leader in the provision of DCC.
Speaking about the call centre contract win, Ger O’Sullivan, Head of Business Services, FEXCO, said “I am delighted that Aer Lingus has chosen FEXCO to meet their overflow call centre services requirements. FEXCO provides a cost effective and customer oriented call centre service, staffed by a strong, qualified workforce. We look forward to working with Aer Lingus to provide seamless call centre services to their customers. We are confident that the combination of FEXCO’s long standing experience in the contact centre industry and our continuous focus on providing innovative solutions will enhance the customer experience.’
Commenting on the announcement, Andrew Cornish, Aer Lingus Chief Customer and Brand Officer, said “We are committed to providing our customers with excellent customer service. FEXCO were selected on the basis of their established track record in providing call centre services with a high level of quality service, at cost effective rates, and we look forward to working with them into the future.”
For further information contact:
Q4 Public Relations
Tel: 01 4751444 / 085 1744275
Issued 27 February, 2012. Global financial services firm, FEXCO, has agreed to acquire No 1 Currency, the Edinburgh based Corporate Payments and Bureau de Change business, for an undisclosed sum. FEXCO will also acquire No 1 Currency’s licensed Bureau de Change network of outlets throughout the UK. The transaction will complete on a phased basis which will see the Bureau de Change business transferring to FEXCO by 1 March, while the acquisition of the Corporate Payments business is expected to complete within three months.
International financial services organisation FEXCO is headquartered in Kerry, Ireland, and is a recognised leader in the provision of Dynamic Currency Conversion (DCC), Corporate Payments, global treasury solutions, Bureau de Change and outsourcing.
No 1 Currency represents FEXCO’s second acquisition of a Currency Exchange business in the UK in the last twelve months.
Speaking about the acquisition, Joe Redmond, Group Executive, FEXCO, said “No 1 Currency offers many of the necessary components for FEXCO to enhance our presence across the UK and further develop as a significant player in the UK FX and Payments market. No 1 Currency provides FEXCO with an enhanced national footprint, a strong platform for continued growth in the UK and a material income stream. It also gives FEXCO access to a recognised brand identity with a strong web presence. The many synergies between FEXCO’s core financial services offerings and No 1 Currency’s FX and Payments portfolio will enable us to improve the service to No 1 Currency’s existing customers and seek additional opportunities across both of our customer bases.”
No 1 Currency operates its Corporate Payments business from its base in Scotland, and manages a network of company owned and licensed Currency Exchange business across the UK, all of which sell and buy foreign currency under the brand name of No1 Currency.
FEXCO proposes to retain existing No 1 Currency staff and locations under the terms of the deal.
For further information contact:
Q4 Public Relations
Tel: 01 4751444 / 085 1744275