MONEX/SIBS Partnership brings DCC solution to Portugal’s ATM Network

KILLARNEY, Ireland - July 1, 2013 - PRLog -- MONEX/SIBS Partnership brings DCC solution to Portugal’s ATM Network

Monex Financial Services announces its Dynamic Currency Conversion (DCC) solution is now live across the SIBS network of 14,000 ATMs throughout Portugal.

This new Monex partnership with SIBS allows International card holders to withdraw funds at Portuguese ATMs while conveniently being charged in the home currency of their card, demystifying the actual amount which will appear on their card statement and clarifying the visitors overseas spend.  

“This partnership with Monex, allowed us to enhance the Multibanco network functionalities available to users, delivering greater convenience to travellers that use our network.” said Luís Flores, SIBS Executive Director, adding that “Multibanco offers a large range of services to its users and we are continuously working to offer more services to ease everyday life”.

DCC has become an increasingly popular service worldwide at ATM machines and is particularly utilised by the business traveller as the FX value is determined at the time of transaction allowing for faster expense claim submissions.

Greg Kane, Commercial Director for Monex states “We are very excited to partner with SIBS and offer DCC across the entire ATM network in Portugal. We’re continuing to develop further initiatives to deliver ancillary revenue to SIBS and its Clients. SIBS has an excellent reputation as an innovative and progressive company within the payments Industry and Monex was eager to deliver DCC as a value add service to their ATM & Merchant network”

The project to roll out the Monex DCC solution at Point of Sale across the SIBS Merchant portfolio is currently underway.

About Monex

Monex Financial Services is the leading privately owned global provider of specialist Dynamic Currency Conversion (DCC) solutions and customised Treasury Management services to Banks, Processors, POS and eCommerce Merchants, Independent ATM Operators, VAT Refund and Credit Card Payment companies, worldwide. Operating from headquarters in Kerry, Ireland,  Monex processes over 119.5 million transactions from 45 countries valued in excess of EUR €20 Billion(USD $26 Billion)annually.  

About SIBS

With 30 years’ experience, SIBS Group, founded in September 1983, develops safe, innovative and efficient payment solutions. Besides managing the largest network in Portugal for POS & ATM, the Multibanco SIBS is responsible for processing and fraud prevention of transactions from payments services including Visa, MasterCard, and AMEX. Approximately 400 clients including Public Sector, banks and mobile operators entrust SIBS Group to make 24x7 safety services available to their final customers.  Employing approximately 500, SIBS Group processed over 2.4 billion transactions valued at 8 billion Euros in 2012. SIBS Group has 6 subsidiaries: SIBS Pagamentos (Payments), SIBS Forward Payment Solutions, SIBS CartÕes (CCards), SIBS Processos (BPO), SIBS International and SIBS Gest (Shared Services).

Press & Media Contact:

Monex - Mai De Barra, Marketing Manager mdebarra@Monexfs.com

More information:  www.Monexfs.com | twitter.com/Monexfs

SIBS - Raquel Pavão Nunes raquel.nunes@parceiros.pt

More information:  www.sibs-sgps.pt