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FEXCO and First Data to expand dynamic currency conversion in Canada

Ireland-based financial transaction processing provider FEXCO Merchant Services and First Data have teamed up to expand the latter’s GlobalChoice dynamic currency conversion (DCC) service in Canada.

Currently employed in more than 300 merchant locations throughout Canada, the service is likely to be selected by increasing participants over the next 12 months.

According to a report by the Canadian Tourism Commission, more than $16bn in retail purchases was spent by international visitors in 2011.

FEXCO executive director Dermot O’Shea said that currently strong external markets were crucial for Irish businesses.

Eliminating the merchant and consumer’s load related to exchange rates and fees, GlobalChoice offers currency conversion at the point of transaction and promotes increased transparency of the true value of goods and services in the cardholder’s home currency.

Both parties have been offering their DCC services at the point of sale (POS) to merchants across the globe over the past one decade.

Electronic commerce and payment processing firm, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers.

FEXCO currently provides its solutions to over 45,000 merchants globally in conjunction with 30 acquiring banks.