FEXCO 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.
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 he or she pays in his 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. The roll out of DCC to date includes a premier, global duty-free provider as well as large international hotel groups and retailers with a particular focus on tourists and business travellers.
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.”
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.” says Johan Tjärnberg, CEO of Bambora.