Why Monex?

Founded in 1997, Monex are very proud of the results we have produced for our many clients by capitalising on the efficiencies that have emerged in the niche market of Dynamic Currency Conversion. Monex' dedication to providing an optimised DCC service has facilitated the growth of our clients.

Monex solution is used today by a number of banks and large merchants.

Frank Murphy, Monex Founder, Owner and CEO, first invented and pioneered the Dynamic Currency Conversion process in the mid 1990’s. The following information traces the landmark moments of the Monex story from its inception, detailing the Company’s steady growth throughout its existence up to current activities and displays the substantial market impact which Monex exerts within the payment Industry today.
  • Track Monex’ landmark moments through the years!
  • Top 100 CEO's list 2014

     

  • Signing of Hertz Contract Renewal

    • CEO Frank Murphy has been honoured as one of Ireland’s Top 100 CEO’s.
    • Monex partnership announcement with Hertz. Continued agreement for a further 7 years.
    • Monex attends Merchant Payment Ecosystem Conference, Berlin.
    • Monex sponsor St Pat’s Society Ball in Hong Kong.
    • Irish Times notes Monex Boss also has Ireland’s most high-tech farm read here
    • Frank Murphy becomes ‘Champion’ for GAA Innovation Academy, UCD programme.
    • Monex CEO listed in Top 50 Financial Services list.
    • Monex team visit NAC, Las Vegas with US partner, Switch Commerce
    • Frank Murphy honoured as one of Ireland’s Top 100 CEO’s
    • ATMIA ME event a great success for the Monex Sales team
  • Signing of Switch Commerce Contract Agreement

    • Frank Murphy acclaimed in the Business & Finance Top 50 Business Leaders.
    • Monex attends Global Irish Network Forum, Dublin.
    • Monex roll out DCC services at ATM with new partner Global Payments Europe (GPE).
    • Monex enjoys a successful trade visit to ATMIA, Arizona, US.
    • Monex joins Taoiseach’s Trade Mission to US.
    • New partnership announcement with US payments technology experts, Switch Commerce to roll out DCC on 50,000 ATMs.
    • Monex specialist DCC Solution, via new partnership with Ingenico’s Axis platform, facilitates merchant clients to yield lucrative additional revenue.
    • New partnership begins with UK company, uShop Tax Free(Smartax Refund Ltd).
    • Monex DCC now LIVE in 45 Countries.
    • Monex transaction processing volume reaches 119.5million with a value of over Euro 20 Billion.
    • Monex DCC solution is now live across the SIBS network of 14,000 ATMs throughout Portugal.
  • Enterprise Ireland, International Meetings Week

    • Monex selected as DCC partner for Emerging Markets Payments – Middle East (EMPME).
    • DCC Payment processing for FireFly Car Rental (formerly Hertz Advantage).
    • A further collaborative partnership with Ryanair on the airline’s latest web site offering ‘Play to Win’.
    • Monex DCC now available at Aldeasa Duty Free Jordan, in conjunction with EMPME.
    • Monex DCC available to customers at Doha International Airport, Qatar Duty Free, a subsidiary of Qatar Airways, the national carrier of the State of Qatar.
    • Significant investment in Monex Business Contingency Systems upgrade ensuring vital client support elements and preventative control monitoring.
  • Qatar National Bank introduces the Monex DCC solution in the Middle East

    • Monex opens new office in Abu Dhabi.
    • Qatar National Bank introduces the Monex DCC solution in the Middle East.
    • In conjunction with Monex, Visa rules expand worldwide basis.
    • Monex payment processing achieves new high of Euro 17.2 Billion.
    • Monex supplies Foreign Exchange Rates for Fortune 500 Companies.
  • Monex open office in Mexico

    • Monex are now live in 26 countries.
    • Monex open office in Mexico.
    • Multi-Currency refund platform expands to include Tax Free companies.
    • New partnership with Italian information technology firm, BEE Consulting.

    • Hertz Corporate announces agreement with Monex to roll out multi-currency treasury management software systems in Europe.
    • Monex releases new DCC product for ATMs.
    • Monex payment processing achieves new high of 10 Billion Euros.
    • New Treasury Management System introduced.
  • Ryanair, the world's largest low-cost airline, commits to Monex in a long term agreement

    • DAA -Dublin Airport duty-free offers Monex DCC to customers.
    • Ryanair, the world’s largest low-cost airline, commits to Monex in a long term agreement.
    • Monex launches its new look and re-brands.
    • Monex payment processing rises to over 7 Billion Euros.

    • Monex celebrates a decade in business.
    • Monex launches its first ATM-based DCC solution.
    • Bank of China commits to contract extension with Monex.
    • Monex’ first gaming industry client launches DCC transactions through the Revenue+ system.
    • Louis Vuitton accepts DCC transactions at prime Hong Kong locations.
  • First Monex DCC transactions commence in India with ICICI Bank

    • Monex licenses its Intellectual Property Rights to Third Party.
    • Asia Pacific’s leading luxury hotel group, Shangri-La Hotels & Resorts launches Monex DCC.
    • First Monex DCC transactions commence in India.
    • Hong Kong International Airport Duty Free completes its first DCC transaction.
    • Bank of China launches Monex DCC roll out to its Merchant profile.
  • Monex becomes the First DCC payment provider globally to achieve accreditation for Payment Card Industry Data Security Standard (PCI DSS)

    • DCC roll-out in Macau with Casino World.
    • Monex becomes the First DCC payment provider globally to achieve accreditation for Payment Card Industry Data Security Standard (PCI DSS).
    • First DCC provider to receive PCI DSS.
  • Monex opens Shanghai office

    • Presentation in China results in 46 new Merchant sign-ups for DCC services.
    • Monex establishes a comprehensive database of Issuers guaranteeing the best foreign exchange rates.
    • Monex opens Shanghai office.
    • Monex becomes fully compliant with new MasterCard rules relating to cardholder currency choice.

    • Monex opens Hong Kong office.
    • DBS Bank in Singapore commences roll-out of Monex DCC.
    • Bank of China Contract Signing.
    • First DCC transaction completed at the 5* Ritz Carlton Hotel, Hong Kong.
    • National Car Rental initiates DCC at its European office locations.
    • Monex Revenue+ service proves popular with clients and merchants.
  • Monex Finance 2002 Highlights

    • Monex launches DCC solution for Royal Caribbean International in conjunction with Citibank using satellite communications for real time FX rates.
    • First DCC transactions recorded in Asia at Thailand’s duty-free stores.
    • Monex enables DCC for 5* Fullerton Hotel, Singapore, ranked No 1 Asian Hotel by esteemed publication, Conde Nast Traveller.
  • Monex Finance 2001 Highlights

    • Monex launches its next-generation platform for DCC and Multi-currency Pricing and Dynamic Currency Pricing under the ‘Revenue+’ brand.
    • Monex becomes the leading global provider of specialist Dynamic Currency Conversion (DCC) solutions and customised Treasury Management services.
    • Payment processing value reaches in excess of 5 Billion Euros.
    • Monex Software is licensed to third party companies.
  • Monex Finance 2000 Highlights

    • Within 6 weeks of an introductory meeting, Ryanair goes live with Monex DCC solution.
    • Monex facilitates an alliance between Chase Merchant Services, RBS and Citizens Bank to deliver DCC solutions in the USA.
    • Monex celebrates the first ever USA-based DCC transaction at Budget Car Rental at their Orlando, Florida location.
    • Europcar International expands its DCC deployment to include corporate countries profile.

    • Multi-Currency VAT Refunds contract won in the Middle East.
    • Monex influences expansion to Visa Rules expanded to reflect express check out for car rental companies.
    • DCC Processing Agreement signed with NatWest (RBS).
    • Europcar International goes live with a DCC pilot at Spanish locations.

    • Visa Rules are established for DCC in conjunction with Monex & AIB Bank.
    • First International Contract signed with Budget Car Rental.
    • Heathrow Airport goes Live with 1st DCC transaction.
    • Joint Venture company established with Global Refund AB for Tax Refund processing.

    • Monex is created.
    • Founding team is recruited to develop automated DCC systems.
    • Patents and Intellectual Property rights established.
  • DCC concept is sold to Hertz Car Rentals

    • DCC is invented by Frank Murphy.
    • Agreement is reached with AIB Bank.
    • DCC initiated with Hertz Car Rentals.
    • The world’s first ever DCC transaction is conducted.