What is Currency Assist?
Currency Assist is a treasury service that enables acquirers to offer merchants risk free processing and settlement options in currencies that are not available for settlement by the card schemes.
Card schemes today only offer settlement in 14 currencies – with Currency Assist; the acquirer can settle merchants in over 87 currencies without any risk!
Currency Assist acts as a safe bridge between the scheme settlement currency and the preferred merchant currency by managing any exposure that arises between the two – making it an ideal option for banks who want to offer merchants maximum choices in their settlement currency.
FEXCO will manage the exposure between scheme settlement currency and the merchant currency by taking the scheme settled currency at the scheme rate and providing the bank with the required merchant settlement currency for settlement to their merchant.
FEXCO has 30 years of experience in global Treasury Services and continues to offer value added services to acquirers worldwide.
Currency Assist Benefits for Acquirers
Acquirers can sell to merchants that transact in currencies outside the scheme settlement currencies.
Settle the merchant in the preferred currency of the merchant.
No FX Risk
No exposure for the acquirer between the scheme settlement currency and the merchant settled currency.
Full reporting on all cash flows for reconciliation and audit requirements.