Capture FX margin with Payment21®’s innovative MicroFX service

High-volume global sales and distribution channels have created both new opportunities and potential FX pricing challenges for merchants. To overcome these new challenges, MicroFX helps you to instantly price goods and services in your customers' local currencies and creates a new revenue stream for you.

MicroFX, an innovative automated advance-pricing tool, gives your customers an enhanced service experience and boosts your margins. MicroFX enables you to receive highly competitive foreign exchange rates, which can significantly benefit your bottom line.

MicroFX is an ideal solution for businesses that receive multiple, small-value payments from a variety of countries. MicroFX’s capabilities in wholesale foreign exchange, automated real-time deal aggregations and netting enable you to:

  • Enhance your customers’ Web experience by pricing goods and services in their local currency
  • Capture FX margins that were previously lost to the card companies in the payment chain
  • Process a large number of transactions at lightning speed (up to 3,000 transactions per second)
  • Minimize risk - MicroFX converts the foreign currency only when a sale is concluded

 Furthermore, there is no restriction on the minimum size of the transaction; you can use the service 24/7 and MicroFX supports over 100 currency pairs. MicroFX can also be customized to match your specific needs.

Our system also delivers the ability to:

  • Set exchange rates in advance, prior to sales being completed
  • Guarantee these FX rates for periods between several hours and several days
  • Reduce FX management by automatically aggregating and netting deals
  • Minimize administration costs through bespoke reconciliation and reporting

Who benefits from using MicroFX?

MicroFX is ideal for businesses ranging from online retailers to money transfer companies. Sectors that have benefited from using MicroFX include:

  • Airlines
  • ATM owners (banks/non-banks)
  • Brokers
  • Digital content aggregators
  • E-tailers
  • I-gaming
  • Money transfer organisations
  • Search engines
  • Telecom companies
  • Travel agents/operators 

 MicroFX is ideal for all kinds of ‘customer-not-present’ businesses, including those looking to expand into new markets.

Case study: Online hotel booking companies

As an increasingly large number of people vacations abroad, more and more online hotel booking companies are facing the same problem: most hotels only accept payments in local currency. Most travel companies’ websites show the prices of hotel rooms only in the currency of the country in which the hotel is located (sometimes with an indicative price in the customer's local currency). When the customer makes the payment, the banks which issued the customers’ credit card charges additional transaction fees for converting payments; consequently, customers only find out the true cost of the booking when their credit card statement arrives. To avoid this problem, travel agents and merchants could use Payment21®’s innovative MicroFX service as it enables travel companies to price hotel rooms in customers’ local currency, making the booking process much easier for customers. In addition, merchants could control the FX processes, potentially earning a revenue stream from the currency conversion.

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