FXChoice POS — bank compatibility

FXChoice is a point-of-sale system for general retail and retail. Not a till at all — it is the multi-currency layer that asks an overseas cardholder whether they would rather pay in their own money.

Tyro only. Tyro is its own middleware and its own acquirer, so this one comes with the bank attached — moving bank means a new integration.

Tyro rates it a Power Up partner.

Tyro's partner directory lists FXChoice under Pure Commerce Pty Ltd, and that clears up what this record actually is. Pure Commerce is an FX and multi-currency acquiring specialist, and FXChoice is its dynamic currency conversion product: it takes the sale price, converts it into the cardholder's home currency at the point of transaction, and lets the cardholder pick which currency to pay in. It runs standalone or integrated with POS terminals. It is not a point-of-sale system, whatever the category on this page says.

Pure Commerce was Australian-headquartered, with offices in Sydney, Auckland, Seoul and Singapore, when Euronet Worldwide (NASDAQ: EEFT) bought it — announced January 2013, reported at $62.7 million, off revenue of about US$15 million in 2012 that had been growing around 30 per cent a year for three years. Daniel Lavecky was chief executive and stayed on. Pure Commerce still trades as part of the Euronet group and now lists a Singapore address at Gateway East on Beach Road.

Why a merchant should care: DCC is a revenue line, not a cost saving. It pays the merchant a share of the conversion margin on foreign cards, which is why it turns up in tourist retail, hotels, airports and duty free rather than in suburban cafes. It is also tightly rule-bound — the cardholder has to be given a real choice, not a default. If you are here because you take a lot of overseas cards, you are in the right place. If you were shopping for a POS system, this is the wrong record.