FEXCO, Ireland’s most successful financial and business solutions provider, and RS2 Software PLC have today announced that international visitors to Malta will now have the choice and convenience of paying for goods and services in their home currency, via RS2’s BankWORKS® card management system and FEXCO’s Dynamic Currency Conversion (DCC) service.

This innovative technology gives customers the option to pay for goods and services in their own currency, with full visibility of the actual exchange rate they are charged on the day of the transaction. Not only does this mean that merchants will still receive their payment in euro, but the cardholder knows exactly how much they have paid in their home currency and are able to keep track of their expenditure while traveling abroad.

Radi El Haj, CEO of RS2 Software PLC, commented: ‘DCC allows both leisure and business travellers know what the transaction cost will be in their own currency at the time of purchase. Being able to provide this service in our home country of Malta is something we have wanted to do for a long time and we firmly believe that this will help local merchants to further grow their business from international customers’. 

The alliance, whilst providing clear benefits to local businesses in Malta, is significant as RS2 has fully integrated the FEXCO service within its core product BankWORKS®, which is used by banks in over 130 countries around the world. The international collaboration was completed in October 2013 and is now live across 400 locations in Malta, with many more due to come online in the near future.

Commenting on this wider connection, Dermot O’Shea, Executive Director of FEXCO Holdings, said: ‘As the largest independent global provider of DCC, FEXCO is delighted to partner with RS2 and rollout DCC through its innovative BankWORKS® card management platform. This innovative technology will give customers paying for goods and services via DCC the assurance that they will be charged in an open and transparent manner on the day of purchase’.

“This partnership will bring new capabilities and revenue streams to acquirers which utilise the BankWORKS® platform, enabling a swift rollout which will extend our reach across the globe.”