Euronet Software Solutions has signed Cayman National Bank to provide Euronet's Dynamic Currency Conversion solution, the company announced today.
Euronet said that by providing international travelers the ability to complete transactions, or withdraw cash, in the local currency or their home currency, the DCC solution makes it easier and less intimidating to make transactions abroad. DCC also give travelers the ability to see detailed costs of their international transactions instead of having to wait for their monthly account statements, eliminating unpleasant surprises from unknown fees added to cross-currency transactions.
"This solution will provide these consumers with many benefits including allowing them to know exactly how much their account will be charged when making purchases or withdrawing cash," said Ormond Williams, president and CEO of Cayman National Bank, in the announcement.
The agreement is a part of a long-standing relationship between Euronet and CNB, said Cindy Ashcraft, managing director for Euronet Software Solutions, in the statement.
Ashcraft added that the new DCC service wold help CNB provide expanded service offerings at their ATMs and POS touch points as well as earn new revenue from foreign transactions.
Euronet Software Solutions is a division of electronic payments provider Euronet Worldwide Inc. and is based in Little Rock, Ark. Cayman National Bank Ltd, based in George Town, Cayman Islands, is a subsidiary of Cayman National Corporation Ltd.
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