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Monex signs new contract with YourCash for UK and continental Europe currency conversion

22 July 2013  |  1871 views  |  0 Source: Monex

Monex Financial Services is pleased to announce a new contract with YourCash Ltd. to provide the Monex Dynamic Currency Conversion (DCC) solution across the YourCash ATM network in the UK and Continental Europe.

UK based Independent ATM Deployer YourCash Ltd currently operates c.6,000 ATMs throughout the UK and Europe, with plans to further increase the estate in high-profile positions with a growth strategy focused on tourist centres and prime high-street locations. 

Monex Dynamic Currency Conversion (DCC) is a specialist solution, which allows card transactions to be processed in the cardholder's home currency. The cardholder is given the option to transact in the currency of their card or in the currency of the country in which they are making the cash withdrawal/purchase.  On acceptance of the DCC service by the cardholder, the transaction remains in the currency of the card throughout the processing and settlement stages. The cardholder clearly knows the exact transaction amount which will appear on their monthly statement.

Greg Kane, Commercial Director with Monex comments “YourCash is an exciting new client for Monex and we’ve developed a close working relationship with the executive team. Both companies have a hard-working and flexible approach to business. We will lead and excell in all of the markets where we collaborate. Monex innovative services are cost effective and dedicated to our Clients requirements. YourCash provides simple, secure, convenient and financially competitive services to its clients. Together, we will deliver clarity and transparency to cardholders at ATM, while enhancing revenue for YourCash.  There are exciting days ahead”

Jenny Campbell, CEO of YourCash comments “We’re delighted to be working with Monex Financial Services on the next stages of YourCash’s strategic growth plan.  YourCash has clear plans to develop service offerings at the ATM. DCC offers international visitors certainty of cost at the point of the transaction.  Our choice of Monex as a supply partner was based upon their depth of experience with DCC functionality, their can-do attitude and the strength of natural relationship between our two companies.  The drive that Monex has shown to develop and improve DCC technology is a clear indication on their proficiency to meet the vision that my board and I have for the YourCash business.”

The countdown is on for the primary DCC launch on YourCash UK and Ireland ATM estates with roll-out across the European network to shortly follow.  

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