Fexco announced a partnership with Cashflows, the platform that makes it easy for merchants to accept payments to provide end-to-end Dynamic Currency Conversion (DCC) services for its ATM deployers.
Cashflows’ Banking Identification Number (BIN) sponsorship solution delivers a full service to ATM deployers looking to enter the market or extend their proposition by accepting transactions from all card issuers. This in turn allows companies to process payments through an intermediary that is a direct scheme member, saving on operational costs.
This partnership sees Cashflows offer new and existing ATM clients the Fexco Treasury DCC solution from launch, potentially connecting to more than 20,000 ATMs across Europe. Fexco’s DCC@ATM solution allows international cardholders to withdraw cash and pay the cost of the transaction in their own currency with full disclosure of the exchange rate and margin.
This in turn can deliver a cost-efficient customisable customer transaction suite to the membership of VISA, Mastercard, Diners, Discover, Union Pay and JCB schemes. Cashflows can quickly tailor these services for any ATM deployers who are either looking to enter the market or extend their proposition by accepting transactions from all card issuers.
Founded in 2010, Cashflows is a payments company that focuses on creating solutions to everyday business problems). The company’s ATM organisation processes more than 50 million transactions annually, worth more than £1 billion (€1.13 billion). Cashflows is a principal member of Mastercard and Visa, and hold license agreements with American Express, Discover, Union Pay International and JCB.
“This partnership is a milestone for Fexco as it enables us to rapidly reach a wider market of ATM operators quickly and provides us with the opportunity to deliver our Treasury DCC proposition to as many operators as possible,” said Shane McElroy, Head of Global ATM Strategy at Fexco. “In a rapidly changing ATM sector, we can deploy our DCC solution to over 20,000 customers, but also be a part of the offering from every new ATM deployer coming into the European market, or those seeking extend their proposition by accepting transactions from all card issuers.”
“The partnership between Fexco will allow us to offer both new and existing ATM clients the Fexco Treasury DCC solution from launch.” Said Adeel Hussain Director of ATM at Cashflows. This in turn will allow us to deliver maximum revenue opportunities at a lower set-up and reduce ongoing costs. It’s so important that the ATMs industry continues to evolve, innovate, and find new ways to ensure profitability, as ATMS are vital to ensuring cash access and financial inclusion. Through expanding our offering to our clients, we hope to support them in growing their businesses further and providing their own customers with more options.”
The partnership, announced at this year’s ATMIA (ATM Industry Association) event in Berlin will see Fexco’s DCC@ATM solution immediately rolled out to ATM deployers. With operations in 60+ countries and €34+ billion annual processed transactions, DCC@ATM is the safest and most popular choice for foreign transactions at local ATMs.