World First for FEXCO as Merchant Services Division Achieves ISAE 3402 and SSAE 16 Standards

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Jan 23, 2014, 10:06 ET

COUNTY KERRY, Ireland, Jan. 23 2014 /PRNewswire/ -- FEXCO Merchant Services, the leading supplier of Dynamic Currency Conversion (DCC), has today (Thursday) announced the successful completion of the ISAE 3402 and SSAE 16 standards, which examine the design and operational effectiveness of internal controls within service organisations. Assessed by auditors from Mazars, the successful completion of the ISAE 3402 and SSAE 16 standards further demonstrates FEXCO Merchant Services' commitment to providing a sound and transparent process for the development, sale, delivery and service of its financial products and solutions.

Commenting on the announcement, Managing Director of FEXCO Merchant Services, Dermot O'Shea, said: "FEXCO Merchant Services is the first independent global DCC provider to have completed the ISAE 3402 and SSAE 16 standards, which is a significant achievement for the company. As the leading supplier of DCC globally, our customers can remain assured that the service we provide is of the highest standard and that we have been recognised internationally for our risk governance and control procedures."

Head of Risk and Compliance at FEXCO Merchant Services, Martin O'Neill, added: "With more than 85,000 merchants using FEXCO's Dynamic Currency Conversion in 28 countries, this achievement reinforces FEXCO's position as the leading independent global provider of DCC. At FEXCO, we are committed to operating at the highest industry and regulatory standard. We know that our clients expect industry-leading levels of security and control over their operations, and the ISAE 3402 and SSAE 16 reports demonstrate FEXCO's commitment to managing itself against the most stringent standards of operational excellence."

Contact:
Emma Hynes
+353877662256
Email
www.fexco.com

About FEXCO

FEXCO is Ireland's most successful multinational finance and business solutions provider, with operations in 28 countries worldwide. Founded and headquartered in Ireland in 1981, FEXCO employs 2,000 people across Europe, the Middle East, Asia, North America, Latin America and Australasia.

FEXCO serves some of the world's biggest brands across multiple industries through a wide range of innovative products and services, including Dynamic Currency Conversion, Commercial and Retail FX, Managed Business Solutions and Tax Free Retail Services.

For 33 years, FEXCO has been driven by an entrepreneurial and innovative spirit. This ethos has brought the company to new regions and industries of growth, connecting customers with exciting new opportunities. Through its commitment to integrity and innovation, the company has built an international network of partners and customers.