Frank Murphy, Monex' Founder, Owner and C.E.O., invented what is now called Dynamic Currency Conversion (DCC) in the mid 1990's. The DCC service was first implemented with the Hertz Rent-a-Car Franchise in Ireland in 1996. Hertz also became Monex' first international customer in 1998.
Although originally set up in 1997 with an investment grant from the Irish Government via Enterprise Ireland, the vast majority of the profitable company’s shares are now held internally. This enables Monex to make quick and effective strategic decisions and to continue to capitalise on new global opportunities when they present themselves. As Monex is not tied through ownership or investment with any Bank in any country, Monex is free to provide unbiased bespoke Currency Conversion or Processing solutions.
As the world's largest provider of DCC solutions, Monex offers point of sale (POS) and integrated systems solutions that are tailored to local requirements while supported by a global network.
Monex serves a wide variety of geographic areas and market sectors including: retail, financial services, e-commerce and hospitality. The company's client list includes well-known companies from a wide range of industries, that include, Bank of China (Hong Kong), ICICI (India), Ryanair (Europe), Air Asia, Europcar, Hertz, Fullerton Hotel, Ritz Carlton Hotels and Shangri-La Hotels.
Monex provides a comprehensive range of bespoke DCC products and services. Over 53 million card transactions are currently processed by us every year, taking transactions from 26 countries across five continents, with volumes significantly in excess of the total number of transactions processed within many of these countries across the same period.
Investment in people and research & development, together with a clear focus on the needs of our clients, have led Monex to continual years of growth.
Monex Financial Services Ltd.
Registered in Ireland. Registered No: 277546
Man's mind stretched to a new idea never goes back to its original dimensions.
Oliver Wendell Holms Jnr (1841 - 1935)