FEXCO, the leading independent global provider of Dynamic Currency Conversion (DCC) technologies and Bambora, the specialist payment and financial company based in Stockholm, Sweden, today announced that they have entered into a strategic partnership agreement for the provision of FEXCO’s Dynamic Currency Conversion services to Bambora’s customers, who operate worldwide.
The partnership will allow merchants and retailers who process payments through Bambora to offer Dynamic Currency Conversion services to foreign visitors. Both Bambora and FEXCO attended Money 2020 Europe, Europe’s largest FinTech event, today in Copenhagen. Pioneered by FEXCO, DCC technology allows international credit and debit card customers to pay for products in their home currency with full visibility of the total cost of the transaction. Currency exchange takes place immediately and the customer knows exactly what they pay in their home currency.
The partnership will see FEXCO’s DCC solution fully integrated into Bambora’s core acquiring system and payment technology, and will offer multiple benefits to both merchants and consumers through a more tailored and transparent shopping experience.
Johan Tjärnberg, CEO of Bambora & Denis Cleary, CEO, Payments and FX, FEXCO, pictured at the announcement.
Commenting on the partnership, Denis Cleary, CEO, Payments and FX, FEXCO; “Today’s announcement demonstrates our continued focus and ambition to bring practical solutions that add value to our partners the world over as part of our growth strategy. The integration of FEXCO’s DCC technology into Bambora’s core system brings multiple benefits to both the merchants and the consumer. We are delighted to announce this partnership and greatly look forward to working with Bambora.”
Founded in 2015, Bambora is a collection of companies with decades of experience in the payments industry. Now a global presence, Bambora employ over 700 employees in 65 markets processing 47.5 billion USD per year.
Commenting on the partnership, Johan Tjärnberg, CEO of Bambora;“Controlling the amount you actually pay in your home currency is a key concern for all foreign visitors who shop at our merchant and retail customers. Dynamic Currency Conversion is another service on our card terminals that simplifies payments, helping customers grow.”