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Fexco Merchant Services Review

Fexco logo

Fexco Merchant Services is an independent service provider offering online sales and technology to big businesses.

If you’re looking for e-commerce solutions like Dynamic Currency Conversion, Tax Free services, Multi-currency pricing, payment switching, e-vouchers, or omni-channel payment integration, Fexco Merchant Services can offer what you need.

Read the full Fexco review below:


In this guide you will find


Fexco screenshot


While not a traditional merchant service provider, Fexco offers third-party solutions to medium and large businesses in need of expanding sales but who don’t have the funds or resources to develop solutions themselves.

Fexco also partners with numerous merchant service providers to offer dynamic currency conversion, e-checks, and other services to acquiring banks, payment terminals and card machines, integrated solutions, and e-commerce specific solutions.

Fexco offers:

  • Dynamic Currency Conversion
  • Merchant solutions through AJB, Micros, Six, Sagepay, Realex, Secure Trading, Ogone, Asiapay, Cybersource, Sabre, ATOS, MasterCard, and PXP
  • Currency conversion to Verifone, Ingenico, Keycorp, Pax
  • Dedicated payment solutions for multiple industries

If you’re considering using Fexco Merchant Services for your business, there’s a lot you should know. Fexco is one of the world’s leading providers of third-party dynamic currency conversion. In fact, Fexco offers DCC in 29 countries, and partners with some of the world’s largest acquiring banks to offer their dynamic currency conversion services.


What Does Fexco Do?


Fexco provides merchant services to over 100,000 merchants in 28 countries, and over 30 major acquiring banks. Large-scale banks like First Data, Sage Pay, AsiaPay, and others all use Fexco dynamic currency conversion, but that’s not all the company does. Fexco also offers location-based services and offerings for medium-to-enterprise businesses – but at rates which can vary significantly depending on the company.


Dynamic Currency Conversion

Dynamic currency conversion allows you to accept payments in any currency, by converting the transaction in real time based on the current transaction rate. In most cases, currency conversion starts out at 0.025% per transaction, but goes up to about 2.5%.

Fexco provides dynamic currency conversion for major acquiring banks and merchant service providers, as well as over 100,000 merchants. The company will offer specific solutions for:

  • ATM – Fexco offers DCC@ATM for independent ATM owners, which offers upfront currency conversion on location. Cardholders can use the service to withdraw funds in a local currency from an account with another currency.
  • POS – Fexco’s DCC enabled Point of Sale terminals auto-recognise eligible cards and currencies and auto-prompt conversion for customers. POS and card terminal vendors including Verifone, Ingenico, Keycorp, and PAX already partner with Fexco to offer this service or you can inquire into it individually for a non-compliant service.
  • E-Commerce – E-commerce dynamic currency conversion enables you to accept up to 100 currencies through online payments. Many online payment gateways feature DCC supporting up to 40 currencies.
  • Virtual Terminal – You can use Fexco’s DCC to accept multiple currencies over the phone or via mail order to auto-convert currencies in card not present/customer not present transactions.
  • Mobile Payments – Use a custom API to develop currency and card recognition to enable customers to pay in their home currency.

Dynamic currency conversion improves customer conversion by allowing international buyers to pay in their home currency. This is then converted and deposited into your account in sterling or euros depending on how you have your account set up.

Multi-Currency Pricing

Multi-currency pricing allows you to set rates in multiple currencies while receiving payment in your chosen currency. This is ideal if you sell at a tourist zone or online and want to support specific customer demographics, but don’t need dynamic currency conversion for more than a few currencies.


Fexco OpenConnect is a full-service platform offering all of Fexco’s services and offerings in one solution. You get dynamic currency conversion, payment switching, multi-currency pricing, integration into most major platforms, PCI-DSS and EMV compliance, and end-to-end card payment processing through Fexco’s technological partners.

Payment Switching

Payment switching allows you to accept any form of payment and switch it to a single payment form. This is ideal for merchants with limited ability to upgrade processing software but who want to accept more types of payments.


Create and accept electronic vouchers and gift cards. This service is useful in most e-commerce stores.

Tax Free

Tax Free works to automatically recognise a customer’s location to remove VAT for non-EU/non-U.K. customers, saving the customer up to 21%.

Currency Exchange

Fexco offers currency exchange services, including with its own retail booths and online platform, allowing businesses to buy and sell in other currencies, offer exchange for tourists and in airports, with click and collect, click and sell, and buy back services. This enables you to offer currency conversion to customers, allow customers to order converted currency online, and makes it easy for you to buy currency back in exchange for their original currency.


Who Does Fexco Work With


Fexco primarily works with medium to large or enterprise businesses. They do not provide small business services.

Fexco Partners with the following providers:

  • Realex Payments
  • Secure Trading
  • Ogone
  • Asiapay
  • Cybersource
  • Sabre
  • ATOS
  • MasterCard
  • PXP

Each of these offers Fexco services through their merchant accounts.


What Doesn’t Fexco Do


Fexco does not provide merchant accounts, card processing, or other traditional merchant services. However, the company does provide dynamic currency conversion for many merchant service providers in the UK, and if you are using dynamic currency conversion through a provider, you can likely find Fexco on your contract.

Fexco processes more than £10 billion in transactions annually, making the company one of the largest merchant service providers in the world. However, with a clientele that largely consists of big business and enterprise, most businesses access their services through third-party technological partners.


Fexco Customer Service and Support


Fexco has won numerous awards for offering quality customer service and support, including the Complaints Team of the Year award. With more than 8,000 employees, Fexco has the means to offer fast and quality responses, and because they typically work with large business, can offer stronger support to each client than a company working with millions of small businesses.

Should I Use Fexco?

Fexco is one of just 13 major dynamic currency conversion providers in the world, and one of 3 based in Ireland. The company’s top competitors include:

  • Alliex
  • ConCardis
  • Euronet Worldwide
  • Continuum Commerce Solutions
  • First Data
  • Global Blue
  • Monex Financial Services
  • Planet Payment
  • Premier Tax Free (Fintrax)
  • Six Payments Services
  • Travelex
  • Worldline

None of these services offer upfront pricing, flat rate membership, or specific rates. Most also offer very similar services. Therefore, you will have to request a quote for your specific needs in order to properly compare the company.

Fexco does offer very high-quality support, custom solutions for business, and ready integration into most of the UK’s most popular payment terminals, shopping carts, and ATMs. This makes it easy to set up and start using the platform.

However, like any other merchant service, it’s still ideal if you can discuss your needs with several competitors, request quotes and offers, and determine which solution will offer the best and most cost-effective services.

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