Kerry-based financial services and technology company Fexco has agreed a new partnership deal with Standard Bank South Africa.
Fexco said its latest collaboration marks another significant step in its expansion across the region.
Standard Bank Group is the largest African bank by assets, operating in 20 African countries, four global financial centres and two offshore hubs.
Headquartered in Johannesburg, South Africa, the bank is listed on the Johannesburg Stock Exchange and the Namibian Stock Exchange.
The partnership will see Fexco's DCC solution rolled out across Standard Bank's merchant network, with over 16,000 merchants expected to be live by the end of this year.
This service allows international cardholders to pay in their home currency at the point of sale, offering greater transparency and convenience while helping merchants unlock new revenue opportunities.
With today's deal, Fexco now supports a significant portion of the South African acquiring market, reaching a 75% market share.
Sean Crowe, CEO of Fexco Financial Services, said the partnership deal with Standard Bank is built on shared values of innovation, reliability, and customer-centricity.
"We're proud to support their merchants with a solution that enhances the payment experience for international visitors and drives incremental value for businesses," he added.
Norman Nyawo, Head of Merchant Solutions at Standard Bank South Africa, said the partnership with Fexco marks a significant step forward in delivering secure and seamless DCC solutions to its merchant base.
"This collaboration underscores our dedication to innovation in payment technologies and our ongoing commitment to meeting the dynamic needs of both our clients and their customers," he said.
With this latest deployment, Fexco now supports a significant portion of the South African acquiring market, reaching a 75% market share. This achievement highlights the company’s long-term investment in the region and its strategic focus on delivering tailored payment solutions to acquiring banks and payment service providers (PSPs) across Sub-Saharan Africa.
