Euronet Worldwide (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, announced today it will provide Standard Chartered with dynamic currency conversion (DCC) services at approximately 1,000 ATMs in 14 countries across Asia Pacific and the Middle East using Euronet’s Digital Integrated Payments Cloud (DIPC).
Euronet was selected to provide DCC services on the ATMs using an intrabank, intercountry network Euronet constructed for Standard Chartered. The bank’s network connects to the DIPC to provide the DCC service on the ATMs on a transaction-by-transaction basis.
DCC provides international customers the option to pay in their own currency when using a VISA or Mastercard at an ATM or point of sale (POS) terminal rather than the local currency. The service removes uncertainty of costs for customers when withdrawing local currency from a foreign ATM by providing a transparent price that includes exchange rate calculations and service charges.
“This project demonstrates two of Euronet’s greatest assets with our ability to maintain ATM networks across large geographies and leverage our cloud-based technology to deliver value to our customers,” said Himanshu Pujara, Regional Managing Director, Asia Pacific. “The DCC offering will add significant value to Standard Chartered and help attract more foreign cardholders who prefer to use the DCC service when making transactions.”