Co Kerry-based financial services provider Fexco has announced an expansion of its foreign exchange business arrangement with British supermarket chain Morrisons.
The service had been available in 50 Morrisons stores across the UK this year, and will now be rolled out to another 50 by the end of 2020.
The partnership strengthens Fexco's position in the UK market, where it holds around 12% share now.
Around £12 billion is exchanged into foreign currency each year at Fexco outlets in Britain.
Fexco said its Retail Foreign Exchange (RFX) division now employs 500 people, who serve about 5 million customers through its UK and Ireland wide networks.
"The supermarket sector has the largest share of the UK travel money market. With its large national network and high store footfall Morrisons is ideally positioned to occupy a market leading position within this," Joe Redmond, Managing Director Retail Foreign Exchange Division, Fexco, said.
He said the 50 branches that Fexco have already opened have been enthusiastically received by Morrisons customers.
"Concerns about whether debit or credit cards will be accepted overseas, and the rise in fees being charged by banks when using cards abroad, means our customers are increasingly seeing the reliability, security, and value that foreign cash provides," he added.
Fexco employs over 2,400 people across its companies and is headquartered in Killorglin in Co Kerry. Founded in 1981, Fexco now has operations in 29 countries across Europe, the Middle East, Asia-Pacific, North America and Latin America.
