Ink dries on Travelex Pulse deal
(1 February 2008 – Australia) Foreign exchange specialist, Travelex has announced the finalisation of its acquisition of Pulse Pos Pty Ltd.
Travelex said it was the largest provider of Dynamic Currency Conversion (DCC) and multi-currency switching services in Australia as a result of the purchase.
Travelex said the purchase signalled the start of ambitious growth plans for Asia Pacific leveraging global resources to deploy its DCC technology.
The technology instantly recognises foreign credit cards, and enables retailers and online merchants to offer foreign cardholders the option of paying in the cardholder’s home currency.
Travelex Outsourcing regional divisional director, Graham Perry, said more than 1,000 merchants were already using the service in Australia as were New Zealand merchants through its alliance with EFTPOS New Zealand.
Pulse Pos has been re-branded Travelex Outsourcing.
Pulse International will continue with its transaction processing and switching business and will retain the ATM component of its business, which was not part of the deal with Travelex.
Perry said the DCC solution enabled banks to offer an added value service to their merchants’ customers, providing both them and merchants a new revenue stream.
He said Travelex was the largest provider of DCC and multi-currency switching services in Australia.
Travelex said the purchase signalled the start of ambitious growth plans for Asia Pacific leveraging global resources to deploy its DCC technology.
The technology instantly recognises foreign credit cards, and enables retailers and online merchants to offer foreign cardholders the option of paying in the cardholder’s home currency.
Travelex Outsourcing regional divisional director, Graham Perry, said more than 1,000 merchants were already using the service in Australia as were New Zealand merchants through its alliance with EFTPOS New Zealand.
Pulse Pos has been re-branded Travelex Outsourcing.
Pulse International will continue with its transaction processing and switching business and will retain the ATM component of its business, which was not part of the deal with Travelex.
Perry said the DCC solution enabled banks to offer an added value service to their merchants’ customers, providing both them and merchants a new revenue stream.
He said Travelex was the largest provider of DCC and multi-currency switching services in Australia.
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