Monex introduces FLEX, the ideal solution for Acquirers and their Merchants requiring payments in currencies not included in Card Schemes settlement currencies.
FLEX offers the ability to deliver enhanced Merchant services with NO FX risk. Merchants benefit from direct settlement in their preferred transaction currency.
Example Merchant transaction scenario:
- A merchant wishes to sell goods in currency X and wishes to receive settlement in the same currency.
- The Merchant transaction is authorized in currency X
- The Acquiring bank however is unable to support settlement in currency X as this currency not included in the optional Card Scheme settlement currencies.
- The Card Schemes will settle currency X in an alternate currency e.g. USD, GBP etc.
- The Acquirer has a dilemma;
- Deal the currency in volatile currency markets?
- Calculate payment currency options for the Merchant? The Merchant must still receive payment in the preferred currency X!
FLEX delivers global currency settlement solutions to the Merchant in currency X with NO FX risk to the Acquirer. Acquirers can attract and increased Merchant portfolio when offering Monex FLEX.
Monex implements treasury option settlement in up to 160 currencies.
We cover the risks so you don’t have to!
- Extended currency portfolio
- Increase your merchant network
- No FX Risk
- Comprehensive MIS Reporting tools