FEXCO

FEXCO and First Data extend successful DCC partnership into online and land-based gambling sector

Wednesday, July 16th 2014: FEXCO, the leading independent global provider of Dynamic Currency Conversion and Multi Currency Pricing services, along with First Data, the global leader in payment technology and services solutions, has today announced the extension of its highly successful 12-year partnership into the online and high-street gambling sector, through First Data’s PayLucky™ Solutions suite.

First Data recently launched PayLucky Solutions to offer an innovative package of comprehensive payment services, all in one place and from one source, for legalized online and offline gambling and gaming.

FEXCO and First Data currently offer Dynamic Currency Conversion (DCC) and Multi Currency Pricing (MCP) services to the world’s leading acquirers and merchants in the airline, hotel, hospitality and retail sectors. Today’s announcement of a move into the legalized gambling sector extends this successful partnership into a market which produced Gross Gaming Revenue (GGR) of US$37 billion in 2012.

Managing Director of FEXCO’s DCC division, Denis Cleary, said of today’s announcement; “FEXCO and First Data have had a very successful partnership over the last 12 years, having led the way in bringing DCC and MCP services to some of the world’s leading hotels, airlines and retailers. It as a natural progression that we extend this partnership into the online and high-street gambling sector, as it is particularly suitable to the DCC service”.

“Legalized gambling in the U.S. – in particular the emerging online providers – attracts customers from all over the world. By expanding DCC into this sector, cardholders can rest assured that they know the exact value they are spending in their own currency every step of the way. We already have extensive experience in this industry through partnerships with leading casino operators and online gaming/gambling customers worldwide. We are delighted to bring this experience to support our partner First Data under its PayLucky brand as we explore this new opportunity in the U.S.”

“PayLucky represents the fusion of existing key partnership products to drive value for new and existing clients in the vertical,” said Jonathan O’Connor, general manager, Online Gambling and Alternative Markets, First Data. “With FEXCO we will look to drive the acceptance of DCC at every client touch point from land-based casino to tribal casinos to online operations. This will give clients the ability to provide easy payment options in domestic or home country currency.”

ENDS
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 client 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. More information about the company is available on FirstData.com as well as on Twitter, LinkedIn, Facebook and YouTube.

About FEXCO
FEXCO is Ireland’s most successful multinational financial and business solutions provider, with operations in 28 countries worldwide. Founded and headquartered in Ireland in 1981, FEXCO employs more than 2,000 people across Europe, the Middle East, Asia, North America, Latin America and Australasia.

FEXCO serves some of the world’s biggest brands across multiple industries through a wide range of innovative products and services, including Dynamic Currency Conversion, Commercial and Retail FX, Managed Business Solutions and Tax Free Retail Services.

For thirty three years, FEXCO has been driven by an entrepreneurial and innovative spirit. This ethos has brought the company to new regions and industries of growth, connecting customers with exciting new opportunities. Through its commitment to integrity and innovation, the company has built an international network of partners and customers.

Ireland’s premier Anti Money Laundering solution developed by FEXCO

Ireland’s premier Anti Money Laundering solution developed by FEXCO

 Anti Money Laundering solution to assist financial institutions to comply with the Criminial Justice Act 

Wednesday, June 25th 2014: FEXCO has developed an Anti Money Laundering (AML) solution which enables financial organisations to meet compliance requirements of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. FEXCO’s AML solution offers a broad range of business solutions which will ensure that financial institutions are fully compliant with the legislation.

FEXCO’s AML solution, operated by the Managed Business Solutions and Outsourcing (MBSO) division from its contact centres in Kerry – which are ISO 9001:2008 certified, offers organisations with an AML requirement increased confidence when it comes to verifying identities, preventing fraud, and helping them stay compliant with comprehensive data-driven technology.

Commenting on the the AML solution, CEO of FEXCO’s MBSO division, Denis Creighton, said: ‘Financial institutions in Ireland are facing increased regulatory pressures to meet anti money laundering compliance requirements under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. The legislation requires each finanical institution in the country to hold up-to-date anti money laundering documentation for every client on their books. This can be a very time consuming undertaking for many companies. We recognised an opportunity for FEXCO’s MBSO team to develop and implement a solution which can be easily deployed to ensure that they adhere to compliance requirements’.

“FEXCO’s MBSO team manages the project for clients from start to finish – from data capture and cleansing, to all inbound and outbound contacts, as well as validating the AML documents and uploading of all completed data to the client’s systems.”

FEXCO’s MBSO division delivers a suite of full end-to-end solutions across a wide variety of business sectors.  Among the services offered by FEXCO MBSO are: multi-channel contact centre services, financial transaction management, end-to-end credit management solutions and innovative software and IT solutions. FEXCO handles over 100 million contacts every year and currently provides services across a range of sectors including a number of Government Departments, Local Authorities, Healthcare, Semi-States, Commercial, Retail, Hospitality, Energy, Corporate and Financial Services.

ENDS

 

Festivals in Central Europe offer best value for Irish music lovers this Summer

Festivals in Central Europe offer best value for Irish music lovers this Summer

  • Hungary’s eight-day Sziget festival in Budapest is the best value at €62.64 per day, or €497.30 for the whole event
  • Open’er Festival in Poland is cheapest overall at €260.50 for a weekend, or €65.10 per day
  • Most expensive festival per day is Tomorrowland in Belgium at €225.50 or €678.40 in total
  • Eight-day festival Roskilde, in Denmark, will drain €913.50 from festival-goers’ pockets

Friday, June 20th 2014 – Kerry, Ireland: Irish festival fans looking to make their euro go further are better off heading to Central Europe to see the headline acts this summer, as Budapest, Hungary and Gdynia in Poland offer best value for money, according to new research from FEXCO’s No.1 Currency.

Looking at 10 of the most popular European festivals, the research showed that once ticket cost, accommodation, food and drink, as well as the duration of festivals are taken into consideration, frugal revellers are better off heading to Slavic countries to make the most of their money this festival season, with Open’er Festival, in Poland, costing €65.10 per day and Exit in Serbia at €77.66 per day, two of the three cheapest music festivals in Europe.

The Sziget festival in Hungary – where Prodigy is headlining this summer – is the best value festival in Europe, with a daily cost of €62.64 or just under €501 for the whole eight days of the festival.

The most expensive festival when working out the cost on a per-day-rate is Tomorrowland in Belgium, at €225.50 per day. With the highest admission, accommodation and meal costs, the weekend could set avid music fans back a pricey €678.40, but with headline acts such as Benny Benassi and Carl Cox, the price tag is unlikely to put too many people off. 

Roskilde in Denmark proves to be the most lavish for festival-goers, exhausting the purse strings of €913.50. It’s 84% more expensive than Sziget, which runs for the same amount of time. With food and drink anticipated to cost €68.90 per day – the overall cost can rack up to nearly €125.30 per day. However, with the Rolling Stones headlining, it’s a not-to-be-missed event for many.

When it comes to festival food and refreshments, Glastonbury attendees will be forking out a whopping €89.40 per day for their daily meals and beverages. On the other hand, savvy spenders heading to Poland for the Open’er Festival, will spend as little as €26.30 a day on food and refreshments.

Simon Phillips, Head of Retail for No1. Currency, comments: “The festival season is upon us and thousands of music loving fans will be heading to Europe in the coming months to enjoy some of the world’s best music acts performing at some of the world’s best festivals.

“Gone are the days when Slane and Electric Picnic or heading to the UK for Glastonbury were the only events on the festival-goer’s calendar. Now there are festivals in most European countries and music junkies are only too happy to travel to see their favourite bands.

“But it’s not just the once-in-a-lifetime opportunity to see bands like the Rolling Stones performing live, that is attracting the Irish to Europe. It’s also the savings they can make on the cost of tickets, accommodation and food and drink.

* No.1 Currency has recently launched a new Click & Collect service. Customers can order their currency online and collect it from their nearest No.1 Currency outlet, or at 47 Credit Unions across the country. And to be in with a chance to win €500 this Summer from No.1 Currency, simply enter the draw in any one of the participating Credit Unions when changing your travel money. Two draws take place a month until the end of August.

-ENDS-

Notes to Editor:

The following table shows the breakdown of costs for all 10 festivals, as well as the total cost (not included travel costs) and breakdown per day:

Festival

Date

Admission

Accommodation per night

Cost per beer

Cost per meal

Total cost of trip

Daily cost

Sziget Festival, Budapest

11-18 August

€257

Included in ticket

€1.90

€3.76

€497.25

€62.64

Open’er Festival, Poland

2-5 July

€135.40

€5

€1.50

€3.76

€260.50

€65.10

Exit, Serbia

10-13 July

€125.40

€15.04

€1.85

€4.64

€312.75

€77.66

Rock am Ring, Germany

5-8 June

€215.60

Included in ticket

€3.10

€10

€351.70

€87.70

Unknown, Croatia

8-12 September

€132.90

€16.3

€2.5

€7.52

€485.36

€97.70

Main Square, France

3-6 July

€119.10

€6.27

€4.12

€9.40

€422.40

€105.20

Roskilde, Denmark

29 June -6 July

€264.5

€7.52

€5

€6.26

€913.25

€114

Glastonbury, UK

25-29 June

€269.5

Included in ticket

€5.64

€10

€701.42

€140.30

Sonar, Spain

12-14 June

€201.8

€15.04

€4.12

€8.14

€444.7

€147.80

Tomorrowland, Belgium

18-20 & 25-27 July

€245.7

€84

€2.94

€10.30

€678.20

€225.50

 

Methodology: Total cost and cost per day based on festival admission, cheapest accommodation cost, average cost of three meals per day and ten beers per day.  

 

About No.1 Currency

No.1 Currency is a leading provider of foreign exchange services in the Ireland and the UK. Part of the FEXCO group, No.1 Currency is currently expanding its operations across the Ireland and the UK and, by the end of 2014, will operate in 43 stores and employ nearly 200 people.

Not only does No.1 Currency offer the widest range of currencies available, at market leading rates and no commission charged on transactions, but any currency not used by customers can be bought back and there is no minimum requirement on orders placed.

MoS Cannon launches NFQ Level 6 Certificates developed by FEXCO and IT Tralee

Investment in employees key to FEXCO’s international expansion with more than 150 new jobs created since 2013

Tuesday, June 10th 2014 – Killorglin, Kerry: FEXCO, Ireland’s most successful multinational financial services and business solutions provider, has today, along with the Minister of State for Education and Skills, Ciaran Cannon TD, and the Head of Development of the Institute of Technology Tralee (ITT), Brid McElligott, launched two IT Tralee Certificates in Sales Through Service and Team Leadership at National Framework of Qualification (NFQ) Level 6, which were developed by FEXCO and IT Tralee for employees to further their education and skills.

Speaking at today’s announcement, Minister of State for Education and Skills , Ciaran Cannon TD, said: ‘Ireland is renowned for producing highly skilled workers and, in order for us to remain competitive, it is crucial that employers such as FEXCO continue to invest in their employees and provide them with opportunities to further enhance their skills. This collaboration with IT Tralee is an excellent example of how private sector organisations and third level institutions can work together to achieve accredited certifications which provide employees with recognised qualifications to advance their career’.

CEO of FEXCO’s Managed Business Solutions and Outsourcing division, Denis Creighton, said: ‘FEXCO’s workforce has grown over the last number of years as the organisation has expanded internationally. With 1,100 employees in Ireland and a further 1,000 located in 28 countries across the world, we understand how important it is to invest in the development of our employees so that they are equipped with the necessary skills to further their career and enable them to be the best at what they do’.

“Our partnership with IT Tralee is one such example of our commitment to supporting our employees. FEXCO’s MBSO division operates out of three contact centres in Ireland, and is the leading supplier of business solutions and outsourcing in Ireland, and the Certificates in Sales Through Service and Team Leadership offers our employees a unique opportunity to further their education. We recognise that our talented and skilled workforce has been the key to our success over the last 33 years, and organisations that we work with recognise that we have the experience, knowledge, expertise and skilled workforce to engage with their customers and deliver the optimum solution to help them grow their business.”

Dr. Oliver Murphy, President of IT Tralee, in welcoming this initiative said: ‘The Institute of Technology Tralee is proud to see the launch of these two programmes. Both were designed in close cooperation between ITT lecturers and FEXCO to create awards that are aligned to the national framework of qualifications so they enable participants to gain a recognisable third level qualification, whilst at the same time helping FEXCO achieve the enhanced knowledge and skills they are looking for. From the ITT perspective, this initiative is exactly the kind of employer collaboration and local impact that the institute seeks to engage in’.

FEXCO prides itself on supporting an entrepreneurial and innovative spirit among its employees. Talent management is a key to this success and FEXCO has an extensive programme in place to develop employees so that every opportunity is made available to them in order to support their career development. As part of this strategy, FEXCO has developed a comprehensive programme of HR initiatives, including performance management and development, a group-wide approach to talent assessment and development, as well as a structured graduate programme with students from leading universities across the country. Forty summer interns will also join the company this year to work in various divisions throughout the country. There is also an extensive educational assistance programme in place, as well as access to a 24/7 e-learning platform.

ENDS

About FEXCO
FEXCO is Ireland’s most successful multinational financial and business solutions provider, with operations in 28 countries worldwide. Founded and headquartered in Ireland in 1981, FEXCO employs more than 2,000 people across Europe, the Middle East, Asia, North America, Latin America and Australasia.

FEXCO serves some of the world’s biggest brands across multiple industries through a wide range of innovative products and services, including Dynamic Currency Conversion, Commercial and Retail FX, Managed Business Solutions and Tax Free Retail Services.

For thirty three years, FEXCO has been driven by an entrepreneurial and innovative spirit. This ethos has brought the company to new regions and industries of growth, connecting customers with exciting new opportunities. Through its commitment to integrity and innovation, the company has built an international network of partners and customers.

 

Festivals in Central Europe offer best value for UK music lovers

 

  • Hungary’s eight-day Sziget festival in Budapest is the best value at £50 per day, or £397.04 for the whole event
  • Open’er Festival in Poland is cheapest overall at £208 for a weekend, or £52 per day
  • Most expensive festival per day is Tomorrowland in Belgium at £180 or £541.47 in total
  • Eight-day festival Roskilde, in Denmark, will drain £729.12 from festival-goers’ pockets

Wednesday, May 14th 2014 – British festival fans looking to make their Pound go further are better off heading to Central Europe to see the headline acts this summer, as Budapest, Hungary and Gdynia, Poland offer best value for money, according to new research from travel money specialist No.1 Currency.

Looking at 10 of the most popular European festivals, the research showed that once ticket cost, accommodation, food and drink, as well as the duration of festivals are taken into consideration, frugal revellers are better off heading to Slavic countries to make the most of their money this festival season, with Open’er Festival, in Poland, costing £52 per day and Exit in Serbia at £62 per day, two of the three cheapest music festivals in Europe.

The Sziget festival, in Hungary – where Prodigy are headlining this summer – is the best value festival in Europe, with a daily cost of £50 or just under £400 for the whole eight days of the festival.

The most expensive festival when working out the cost on a per-day-rate is Tomorrowland in Belgium, at £180 per day. With the highest admission, accommodation and meal costs, the weekend could set avid music fans back a pricey £541.47, but with headline acts such as Benny Benassi and Carl Cox, the price tag is unlikely to put too many people off.

Roskilde in Denmark proves to be the most lavish for festival-goers, exhausting the purse strings of £729.12. It’s 84% more expensive than Sziget, which runs for the same amount of time. With food and drink anticipated to cost £55 per day – the overall cost can rack up to nearly £100 per day. However, with the Rolling Stones headlining, it’s a not-to-be-missed event for many.

When it comes to festival food and refreshments, Glastonbury attendees will be forking out a whopping £69 per day for their daily meals and beverages, with a pint of beer costing an eye-watering £4.50 – the most expensive of any of the festivals in Europe. On the other hand, savvy spenders heading to Poland for the Open’er Festival, will spend as little as £21 a day on food and refreshments.

And there’s more good news for festival addicts heading to the continent this summer, with the Pound 3.2% stronger against the Euro compared to 12 months ago, and 1.2% better off compared to the start of the year.

The following table shows the breakdown of costs for all 10 festivals, as well as the total cost (not included travel costs) and breakdown per day:

Festival

Date

Admission

Accommodation per night

Cost per beer

Cost per meal

Total cost of trip

Daily cost

Sziget Festival, Budapest

11-18 August

£205

Included in ticket

£1.50

£3.00

£397.04

£50

Open’er Festival, Poland

2-5 July

£108

£4

£1.20

£3.00

£208

£52

Exit, Serbia

10-13 July

£100

£12

£1.48

£3.71

£249.72

£62

Rock am Ring, Germany

5-8 June

£172

Included in ticket

£2.47

£8.00

£280.80

£70

Unknown, Croatia

8-12 September

£106

£13

£2.00

£6.00

£387.50

£78

Main Square, France

3-6 July

£95

£5

£3.29

£7.50

£337.20

£84

Roskilde, Denmark

29 June -6 July

£211

£6

£4.00

£5.00

£729.12

£91

Glastonbury, UK

25-29 June

£215

Included in ticket

£4.50

£8.00

£560

£112

Sonar, Spain

12-14 June

£161

£12

£3.29

£6.50

£355.05

£118

Tomorrowland, Belgium

18-20 & 25-27 July

£196

£67

£2.35

£8.23

£541.47

£180

Simon Phillips, Head of Retail for No1. Currency, comments: “The festival season is upon us and thousands of music loving Brits will be heading over to mainland Europe in the coming months to enjoy some of the world’s best music acts performing at some of the world’s best festivals.

“Gone are the days when Glastonbury and Reading were the only events on the British festival-goer’s calendar. Now there are festivals in most European countries and music junkies are only too happy to travel to see their favourite bands.

“But it’s not just the once-in-a-lifetime opportunity to see bands like the Rolling Stones performing live, that is attracting Brits to Europe. It’s also the savings they can make on the cost of tickets, accommodation and food and drink. Our research shows that it can actually work out much better value to travel to a festival in mainland Europe than to stay at home.

“Not only does our cash go further in Central Europe, especially Gdynia and Budapest, where food and drink in particular is relatively cheap compared to the UK, but Brits heading to festivals in the Eurozone this summer will enjoy the added bonus of a strengthening Pound.

“For example, exchanging £300 for spending money this year you’ll get €368, compared to €354 last year – and as our research shows, an extra €18 in places like Poland and Budapest can pay for quite a few extra beverages.

“Also, it’s worth ordering and picking up your spending money in the UK before you arrive at the festival, because there are likely to be limited cash machines within the event, and that means you may end up spending hours queuing for money rather than enjoying the music.”

* No.1 Currency has recently launched a new Click & Collect service. Customers can order their currency online and collect it from their nearest No.1 Currency outlet, or at one of more than 160 affiliated agents across the UK.

-ENDS-

Notes To Editor

Methodology: Total cost and cost per day based on festival admission, cheapest accommodation cost, average cost of three meals per day and ten beers per day.   

No.1 Currency opens new foreign currency store in Colchester

Thursday, May 1st 2014: No.1 Currency, a leading provider of travel money in the UK, has opened a new currency exchange store at 44 High Street, Colchester, which is the fourth new No.1 Currency store opened so far in the UK this year. A further 16 stores will be opened by the end of 2014, bringing a total of 43 own stores and nearly 200 employees.

Commenting on the announcement, No.1 Currency’s Head of Retail, Simon Phillips, said: ‘No.1 Currency is currently undergoing a major expansion of its high street network and this outlet in Colchester is the fourth of 20 new stores which will be opened across the UK in 2014’.

“By the end of the year, No.1 Currency will be operating from over 200 locations across the country. The growth and performance of No.1 Currency over the last two years has been very impressive and we are committed to building on this success and establishing ourselves as No.1 for convenience, price and service.

“No.1 Currency offers the widest range of currencies with no commission charged, and, with Click & Collect, it couldn’t be easier for customers to order their currency online and collect it from any No.1 Currency outlet, or at any of the 160 agents located across the UK.”

ENDS

 

FEXCO’s New Business Development Manager for North America and Canada to drive awareness of Tax Free Shopping for tourists visiting Ireland

US and Canadian tourists can avail of significant savings when visiting Ireland this summer

Wednesday, April 30th 2014 – Kerry, Ireland: FEXCO, Ireland’s most successful financial and business solutions provider, has today (Friday) announced the appointment of Annalise Stack to the role of Business Development Manager for North America and Canada, to drive awareness of Tax Free Shopping from FEXCO for tourists visiting Ireland this year.

Visitors to Ireland from outside the EU can shop without having to pay sales tax on their purchases. To make it easier for tourists to reclaim their tax, FEXCO offers a seamless solution which removes the tedious process of reclaiming the tax paid on purchases. With the FEXCO Horizon card, customers simply register their card online, present it when making purchases and the price they are charged will exclude tax.

Commenting on today’s appointment, FEXCO’s Head of Tax Free Shopping, Danielle Maloney, said: ‘Ireland is a very popular destination for tourists from the US and Canada. The US in particular is the largest non-EU market for tourism and we believe it is important that tourists are aware of the savings they can make on purchases when they are on vacation here’.

“The appointment of Annalise Stack, who has a wealth of experience in the travel industry in the US, demonstrates FEXCO’s commitment to increasing awareness among US and Canadian tourists of the FEXCO Horizon card, which will offer them a free and easy way to reclaim the tax on purchases they make on vacation in Ireland.”

ENDS

FEXCO and Zapp partner to bring mobile payments to point of sale for consumers

London, 10 April 2014:  Zapp today announces a partnership with FEXCO that will make it easier for consumers to make mobile payments at the point of sale within stores.

The partnership – one of many that Zapp is establishing with technology providers – means that acquirers will be able to seamlessly support Zapp transactions via FEXCO’s FLASHiZ mobile payment platform on existing Point of Sale hardware. This makes it easier for retailers to integrate mobile payments using both QR codes and NFC so their customers can use their mobiles to pay in shops, online, and pay paper invoices.

The news follows the publication of a report from the Centre for Economics and Business Research (Cebr) which concluded that mobile payments will bring retailers reduced transaction costs, increased sales and an improved consumer shopping experience. The report found that shifting from cash, credit and charge cards to mobile payments could have saved retailers £463m1 in lower transaction costs in 2013.

Peter Keenan, Chief Executive of Zapp, said, “We’re delighted to welcome FEXCO into the Zapp payment ecosystem. We’re committed to building the most open and inclusive alliance of any mobile payment initiative and this is another example of how the industry is getting behind Zapp, working together to make mobile payments a reality for millions of consumers. We know that for retailers, it’s important that any new payment service is technology agnostic and easily integrates with their existing in-store hardware. Today’s announcement – and others we will make in the coming months -helps makes this possible.”

FEXCO’s Head of Mobile Payments, John McCarthy, said: “Today’s announcement is an important step towards our goal of supporting our acquiring partners in accepting mobile payments. Through our partnership with Zapp, acquirers will be able to seamlessly support Zapp transactions on existing Point of Sale hardware. This partnership highlights how acquirers can adopt this technology and best position their business to profit from the rapidly evolving world of mobile payments. At FEXCO, we believe that mobile payments will play a key role in the future of retail and we are looking forward to working with Zapp to roll out new merchant locations on multiple integrated and standalone devices in 2014.”

Research by the Cebr2 predicted that 20 million adults will use their mobiles to pay for goods and services by the end of the decade, with the value of purchases tripling from current levels to £14.2bn in 2018. By 2020, mobile payments will represent 1.4% of total consumer spending.

Zapp announced in January 2014 that it will be open to all financial institutions, merchants, acquirers and consumers from autumn 2014 and its lead partners are: HSBC, first direct, Nationwide, Metro Bank, Santander, WorldPay, Elavon, Sage Pay, Realex Payments and Optimal Payments. The alliance is working together to prepare the roll-out of Zapp payments to millions of customers, merchants and businesses. Together this group represents over a third of all UK bank accounts with more than 60% of UK merchants being able to take advantage of Zapp payments. Zapp will continue to recruit new members to this alliance throughout 2014.

1 Shifting from cash payments to mobile payments could have saved retailers £197 million in lower transaction costs in 2013. A saving of £266 million in reduced transaction costs could have been made from shifting away from credit  & charge cards to mobile payments.

2 ‘The Future of Payment in the UK’, Cebr, November 2013

About Zapp

Zapp is the UK’s leading mobile payment innovation. Zapp enables real-time payments on people’s mobile phones through their existing mobile banking application allowing secure payments to happen between consumers and merchants. Zapp will be open to all financial institutions, merchants, acquirers and consumers from autumn 2014 and its lead partners are: HSBC, first direct, Nationwide, Metro Bank, Santander, WorldPay, Elavon, Sage Pay, Realex Payments and Optimal Payments. Zapp is part of the VocaLink group of companies. VocaLink is the UK payments provider, in 2012 VocaLink processed over 10 billion UK payments with a value of over £4.5 trillion. For more information on Zapp visit: www.zapp.co.uk. For more information on VocaLink visit: www.vocalink.com.

 

FEXCO partners with RS2 to bring Dynamic Currency Conversion to Malta

FEXCO partners with RS2 to bring Dynamic Currency Conversion to Malta

HMS Malta first to rollout FEXCO’s DCC on its BankWORKS® card management system

Monday, March 10th 2014 – Dublin, Ireland: FEXCO, Ireland’s most successful financial and business solutions provider, and RS2 Software PLC have today announced that international visitors to Malta will now have the choice and convenience of paying for goods and services in their home currency, via RS2’s BankWORKS® card management system and FEXCO’s Dynamic Currency Conversion (DCC) service.

This innovative technology gives customers the option to pay for goods and services in their own currency, with full visibility of the actual exchange rate they are charged on the day of the transaction. Not only does this mean that merchants will still receive their payment in euro, but the cardholder knows how much they have paid in their home currency and are able to keep track of their expenditure while traveling abroad.

Radi El Haj, CEO of RS2 Software PLC, commented: ‘DCC allows both leisure and business travellers know what the transaction cost will be in their own currency at the time of purchase. Being able to provide this service in our home country of Malta is something we have wanted to do for a long time and we firmly believe that this will help local merchants to further grow their business from international customers’.

The alliance, whilst providing clear benefits to local businesses in Malta, is significant as RS2 has fully integrated the FEXCO service within its core product BankWORKS®, which is used by banks in over 130 countries around the world. The international collaboration was completed in October 2013 and is now live across 400 locations in Malta, with many more due to come online in the near future.

Commenting on this wider connection, Dermot O’Shea, Executive Director of FEXCO Holdings, said: ‘As the largest independent global provider of DCC, FEXCO is delighted to partner with RS2 and rollout DCC through its innovative BankWORKS® card management platform. This innovative technology will give customers paying for goods and services via DCC the assurance that they will be charged in an open and transparent manner on the day of purchase’.

“This partnership will bring new capabilities and revenue streams to acquirers which utilise the BankWORKS® platform, enabling a swift rollout which will extend our reach across the globe.”

Both RS2 and FEXCO look forward to extending the DCC service to many more acquirers globally during 2014 across the BankWORKS® platform.

ENDS

Contact:
Emma Hynes
Group PR Manager
+353 87 7662256
EHynes@FEXCO.com

About FEXCO
FEXCO is Ireland’s most successful multinational financial and business solutions provider, with operations in 28 countries worldwide. Founded and headquartered in Ireland in 1981, FEXCO employs more than 2,000 people across Europe, the Middle East, Asia, North America, Latin America and Australasia.

FEXCO serves some of the world’s biggest brands across multiple industries through a wide range of innovative products and services, including Dynamic Currency Conversion, Commercial and Retail FX, Managed Business Solutions and Tax Free Retail Services.

For thirty three years, FEXCO has been driven by an entrepreneurial and innovative spirit. This ethos has brought the company to new regions and industries of growth, connecting customers with exciting new opportunities. Through its commitment to integrity and innovation, the company has built an international network of partners and customers.

For further information, please logon to www.FEXCO.com

About RS2 Software plc.

RS2 Software plc. is a global provider of Card Management Systems software, and related services to international and domestic banks, service providers, and other financial organisations. Based in Mosta, Malta. RS2’s solutions are focused on the BankWORKS® suite of application modules. BankWORKS® is a powerful modular high-end card management system designed to meet current and future requirements in the international payment card industry.  The system meets processing requirements defined by banks, service providers, as well as other organisations participating in diverse card businesses.  The system’s modules include Card Issuing, Merchant Acquiring, Transaction Processing, Clearing, Settlement, Reporting, Dispute Management and Internet Services.

RS2 Smart Processing Ltd is a wholly owned subsidiary of RS2 Software plc. that is a Managed Service provider to Banks, Payment Processors and Financial Institutions enabling them to use the BankWORKS® suite of applications as a service using cloud based hosting provided IBM.

Please find further information at www.rs2.com

 

 

Click & Collect your foreign currency at FEXCO’s No.1 Currency.com

FEXCO’s highly successful UK foreign currency retail operation expands into Ireland.

Monday, March 3rd 2014 – Dublin, Ireland: FEXCO, Ireland’s most successful multinational financial and business solutions provider which employs more than 1,200 people in Ireland, has today announced that it will operate its own retail outlets in Ireland under its well established UK brand No.1 Currency. Click & Collect, a new and easy way to order and collect foreign currency before traveling abroad, is also being rolled out in No1. Currency’s Irish retail outlets.

By simply logging on to www.no1currency.com and following the three simple steps, customers can order the currency of the country they are traveling to and then drop into a No.1 Currency outlet to collect and pay for it. Not only does No.1 Currency offer the widest range of currencies available, at market leading rates and no commission charged on transactions, but any currency not used by customers can be bought back and there is no minimum requirement on orders placed. Continue reading