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New Alliance with PROSA Mexico

24-Aug-2011

Promoción y Operación S.A. de C.V. (PROSA) and Fintrax Group have signed a business alliance to offer PROSA merchant customers Fintrax’s innovative Dynamic Currency Conversion (DCC) service. With this alliance, PROSA and Fintrax Group provide the Mexican merchant market with a service that is highly successful throughout the world.

With DCC, foreign cardholders have the choice to pay in their local currencies at the time of making a purchase at any store acquired by any bank affiliated to PROSA, in a manner that is transparent to the user and with a competitive exchange rate.

PROSA and FINTRAX are thus pioneers in introducing this successful service in Mexico, aimed at foreign visitors and transactions made with bank cards. DCC, patented by Fintrax in Mexico, also enables consumer banks to generate a new income source.

The PROSA DCC service – Powered by Fintrax ¥€$™, guarantees the exchange rate applied on the purchase, removing any exchange fluctuation risk to the cardholder and providing the possibility to pay in his/her own currency at the point of sale, transparently and competitively. DCC offers multiple benefits to all parties involved:

Foreign cardholders in Mexico: offers the option to pay in their local currencies at point of sale terminals. With DCC, there is no need to make mental calculations to obtain the value in their own currencies for purchases in Mexican pesos.


Merchant bank: The DCC commission, generated each time the cardholder makes a transaction.


PROSA, Promoción y Operación, S.A. de C.V.

After more than 40 years, this is the largest switch in Latin America. It processes more than 16 billion annual transactions from all types of cards issued by Mexican and international institutions.

It interconnects to all banks in the Mexican system and the main international processors. It carries out routing, compensation, settlement, clarifications and authorisations of electronic transactions. Its CARNET brand enables issuing banks to place more than four million cards into circulation. The NETWORK system integrates more than 37,000 cash points in Mexico. Infrastructure and technology is shared in order to assist customers to expand their services portfolios, offering tools for fraud prevention, strategic information systems, mobile solutions, electronic commerce, processing, back office, telemarketing, etc. In international markets, the company has significant participation in Peru, Panama, Honduras, Guatemala, El Salvador, Brazil, Puerto Rico and Colombia.

For more information visit:

Prosa Website
Carnet Website

FintraxGroup:

An innovative financial services company, created in 1985, specialising in multi-currency services and reimbursement solutions for taxes for banks, merchants and tourists. The international services offered by FintraxGroup are tax reimbursements to tourists, which operate through Premier Tax Free, multi currency and processing services for the most renowned cards such as ¥€$ DynamicCurrencyConversion.

With 25 years experience working together with governments, merchants and banks in the innovative payment services area, Fintrax offers incomparable experience.

With headquarters in Galway, Ireland and with more than 25 offices throughout the world, the company is committed to continual business expansion and its multiple services throughout Europe, America, the Middle East, Asia Pacific and Africa.

Please consult our website for more information

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