First Data Corp. and Fexco Merchant Services, an Irish-based transaction processor, have expanded First Data's GlobalChoice dynamic currency conversion into Canada.
GlobalChoice is operating in more than 300 stores throughout Canada, the companies said. For the past 10 years, First Data and Fexco have jointly offered dynamic currency conversion services at the point of sale to merchants all over the world.
"The expansion of our partnership enables Canadian merchants and ultimately consumers to benefit from Fexco's fully managed treasury management service and First Data's industry-leading payment solutions and processing platforms," Dermot O'Shea, Fexco executive director, said in a press release.
Besides the convenience of currency conversion at the point of transaction, GlobalChoice eliminates much of the guesswork related to exchange rates and fees, according to the release. GlobalChoice also promotes a greater transparency of the true value of goods and services in the cardholder's home currency, the release said.
"With the introduction of GlobalChoice, First Data is helping merchants grow their international sales volumes while providing an additional customer service benefit," Brian Green, First Data Canada general manager, said. "Providing consumers a choice of paying in their home currency enhances the purchase and checkout experience."