Barclaycard launches FX solution

Barclaycard Payments has launched a new Foreign Exchange (FX) solution for corporate customers in collaboration with Barclays Corporate & Investment Bank.

Barclaycard Multicurrency enables e-commerce customers to accept payments in a number of currencies with settlement into Sterling, Euro, or US dollars using a pre-determined fixed FX rate.

The enhanced product provides simplicity, convenience and transparency for consumers through pricing in their local currency. It also offers ecommerce customers a host of additional benefits including:

Customers can protect their Barclaycard Multicurrency transactions against FX risk with pre-determined rates for 1 or 7 days, with mid-rates published before the trading period commences.

The Barclaycard platform has existing, built-in functionality that means if currency payments are acquired by Barclaycard, Multicurrency can be switched on with no additional integration.

“Selling abroad opens up exciting opportunities for businesses large and small – from growing their sales, to new markets and revenue streams,” said Paul Adams, head of product at Barclaycard Payments. “Barclaycard Multicurrency makes it easy for consumers to see prices and pay in their own currency, helping ecommerce businesses drive sales while protecting themselves from FX risk with locked-in rates.

“By the end of the year we expect our existing corporate clients with FX requirements to be using the new service.”

    Share Story:

Recent Stories


New Business Frontiers
FStech’s Mark Evans discusses the future of financial services with Liu Jianning of Huawei, covering the limitations that current thinking can impose, how financial institutions can embrace technology to be both agile and resilient, and making space for the organisation to focus on the job of creating innovative business models and on delivering business value for their customers.

The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.