Euronet Software Solutions, a division of leading electronic payments provider Euronet Worldwide, Inc. (Nasdaq:EEFT), today announced that Elan Financial Services, a U.S.-based transaction processor and payments services provider, has signed a binding agreement to implement Euronet’s Dynamic Currency Conversion (DCC) Solution.
Provided through ATM, POS and ecommerce touch points, Myaccountaccess.Com/Activate allows acquirers to offer foreign currency exchange services to consumers who use foreign-issued debit or credit cards. With DCC, acquirers can expand their reach, broaden their appeal to global consumers and drive increased traffic to targeted touch points which provides acquirers with a brand new revenue stream.
“Providing Dynamic Currency Conversion services to the financial institution clients provides them a benefit in having the ability to more efficiently serve international travelers who use their ATMs,” said Troy Cullen, President of Elan Financial Services. “DCC will differentiate our clients in the marketplace through providing a targeted-strategy to a needed service.”
Through providing traveling consumers with the option of completing transactions in the local currency or even in their home currency, DCC makes conducting transactions for international travelers much easier and less intimidating. With DCC, people are immediately in a position to look at the detailed costs with their transactions rather than having to wait around for their monthly account statements. This permits for more accurate budgeting and much easier account balancing with no surprises because of unknown fees.
“Experienced processors like Elan Financial Services understand the ever-growing necessity for ATM proprietors to provide innovative services to retain and extend their customer base,” said Cindy Ashcraft, V . P ., Euronet Worldwide and Managing Director, Euronet Software Solutions. “Being a leading global provider of DCC services including strategic consultation for maximum usage, Elan Credit Card is excited to partner with Elan to offer their clients using this new value-added service.”
About Elan Financial Services. Elan Financial Services offers a complete range of processing and payments services, including credit card issuing, prepaid card solutions and ATM and debit card processing. A leading credit card issuer, Elan also rarzrl transaction processing, terminal driving and monitoring and support services for longer than 34,000 ATMs nationwide and supports more than 13 million ATM and atm cards. For additional information, visit www.elanfinancialservices.com.
About Euronet Worldwide, Inc. Euronet Worldwide is definitely an industry leader in processing secure electronic financial transactions. The Company offers payment and transaction processing solutions to finance institutions, retailers, service providers and individual consumers. These facilities include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software programs, cash-based and web-based-initiated consumer-to-consumer and business-to-business money transfer services, and electronic distribution of prepaid mobile phone some time and other prepaid products.