Nedbank has selected Irish financial services firm FEXCO’s dynamic currency conversion (DCC) payment solution to offer greater convenience to its merchants and international customers across South Africa.
The South African lender will integrate the DCC solution into its core card-acquiring system.
The integration will enable international cardholders to make payments in their home currency, while having visibility of the total transaction cost at the point of sale.
Commenting on the alliance, Nedbank head of corporate card services Pamela White said: “We are delighted that the service will be available to both Mastercard and Visa cardholders. The scale of its availability will go a long way to support the growing local tourism market, benefiting international travellers, who will have full visibility of their expenses in their home currencies instantly.”
FEXCO CEO of payments and foreign exchange Denis Cleary added: “Today’s announcement marks a significant milestone for FEXCO as we further expand our payment technology offering into Africa. The integration of FEXCO’s DCC technology into Nedbank’s core card-acquiring system brings multiple benefits to merchants and their customers.”