Payments firm Euronet Worldwide will offer cloud-based dynamic currency conversion (DCC) services to British banking group Standard Chartered.
DCC is a process, which allows customers in a foreign country to make Visa or MasterCard transactions in their preferred currency at the point of sale or ATM.
It includes exchange rate calculations and service charges. This is said to support price transparency and minimise cost uncertainty for those travelling abroad.
Standard Chartered can avail the services with the help of Euronet’s Digital Integrated Payments Cloud (DIPC).
The services will be available at nearly 1,000 ATMs across 14 Asia Pacific and Middle East nations.
Commenting on the move, Euronet regional managing director for Asia Pacific Himanshu Pujara said: “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.
“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.”
For the DCC services, the network of Standard Chartered will be linked to the DIPC on a “transaction-by-transaction basis”.
Notably, last month, Euronet joined forces with Visa to strengthen payment services and facilitate fintech growth in the Asia Pacific region.
Euronet caters to clients in around 170 countries and has 65 offices across the globe.