Fexco is the global market leader in the provision of Dynamic Currency Conversion (DCC) to merchants globally. The DCC service delivers real value to merchants and customers through upfront conversion of foreign purchases.
Customers benefit from a fully transparent and competitive exchange rate for card purchases made abroad. With Fexco’s service, the cardholder is offered a choice to pay in their home currency or the merchant’s currency at the point of sale.
Once a currency is selected by the cardholder, the transaction remains in that currency throughout the entire transaction and settlement process. As such, both the merchant and cardholder know the exact sale amount at the time of the purchase, so no more waiting and guessing conversion rates. DCC is a more precise and reliable way to process your international sales.
Merchant Vertical Markets
Fexco’s currency conversion solutions are offered across a number of different verticals:
Benefits for Merchants
Experience and Expertise
Fexco have over 19 years’ experience of currency conversion solutions for the payments industry.
Capitalise on the total opportunity by offering DCC on more currencies. Fexco distribute rates for over 1,000 currency pairs.
Financial Strength & Stability
Fexco have the financial strength and expertise to invest in our partners and we commit to long-term, mutually beneficial partnerships.
No Hidden FX Margins
Complete disclosure and traceability of foreign exchange rate margin setting process. Fexco will agree the FX margin to be applied to a Reuters Wholesale Interbank Rate.
Speed to Market
Fexco are already partnered with multiple Passenger Service Systems, online booking engines and other third party technical payment providers.
Card Scheme Compliance
Fexco firmly believe in the longevity of DCC as a product and advocate transparency and disclosure to cardholders in accordance with card scheme compliance requirements.
Fexco provide superior support to our clients as part of our established Partnership Support Programme to assist them to effectively promote and offer DCC and drive revenue maximization.
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Questions and answers
Must I inform the customer the final sale amount in both currencies?
Yes, you must inform the international cardholder how much their purchase costs in their home currency and in the local currency. This information will clearly be displayed on the technology device screen and also on the receipt.
How will I know when a card is eligible for DCC?
Your technology device will automatically recognise cards that are eligible for DCC.
Will Fexco provide staff training?
Yes, Fexco will provide training on a regular basis in order to support DCC performance and ensure the DCC service is offered in a compliant manner.
Is DCC a good option for my business customers?
DCC makes the expense claim process much simpler as DCC ensures the international cardholder knows how much the purchase costs in their home currency. It also helps when a business person is restricted to adhering to a budget.
Will I need a separate processing system to support the service?
No. The currency recognition software sits on your existing device. You will not see any processing differences.
Can I set my own exchange rates and margins?
No, the exchange rates are set by Fexco. Fexco’s wholesale interbank exchange rates are sourced from Reuters, a globally recognised provider of foreign exchange rates. This Reuters wholesale interbank exchange rate is comparable with those used by VISA & MasterCard.
Are the exchange rates updated frequently?
The exchange rates are updated at least once per day prior to business opening or they are updated dynamically through Fexco’s Dynamic Host Server (DHS).
Where are the exchange rates sourced from?
Fexco sources its wholesale interbank exchange rates from Reuters, a globally recognised data/rate provider in the finance market.
Are my card transactions secure with Fexco?
Fexco is certified as a Service Provider‐Level 1 in compliance with the Payment Card Industry Data Security Standard (PCI DSS).
What currencies are supported with DCC?
DCC is available on a wide range of currencies. A DCC enabled device automatically detects supported foreign currencies and presents the international cardholder with the choice to pay in the merchant’s currency or the cardholder’s home currency.
What card types support DCC?
The DCC service is available on VISA and MasterCard (Maestro if applicable) cards only.
What is Dynamic Currency Conversion (DCC)?
DCC is the user-friendly, point-of-purchase service whereby international Visa & MasterCard card users can choose to pay in their own currency, rather than the domestic currency of where they are making their purchase.
Fexco Dynamic Currency Conversion Details
Registered address: Fexco Centre, Iveragh Road, Killorglin, Co. Kerry, Ireland