Venture Infotek introduces Exchange Plus
India's leading transaction processing and knowledge Management Company Venture Infotek announced that it has introduced ExchangePlus, the Dynamic Currency Conversion (DCC) technology by NeoWorth. It's a complete solution for the Acquiring Banks' merchant business. ExchangePlus will be beneficial for foreign travelers who can now have the benefit of paying their bills in the currency they understand the best.
Tweet-- India's leading transaction processing and knowledge Management Company Venture Infotek announced that it has introduced ExchangePlus, the Dynamic Currency Conversion (DCC) technology by NeoWorth. It's a complete solution for the Acquiring Banks' merchant business. ExchangePlus will be beneficial for foreign travelers who can now have the benefit of paying their bills in the currency they understand the best.
ExchangePlus will deliver multiple currency transactions processing on a single credit card payment terminal. With the payment terminal equipped with the merchant, this software will allow customers paying by Visa or MasterCard, to pay for their goods & services in their home (billing) currency, while the amount will be settled in the local currency ( INR ) for the merchant. ExchangePlus will give an idea about the cost of purchase in both currencies as well as the exchange rate applied, thus helping the customer feel informed and have control over their money in a foreign location.
"In continuing with our tradition of offering innovative solutions, the ExchangePlus (DCC) is a huge value addition for merchants across the nation to offer a value added service to their international customers. ExchangePlus offers 14 options of currencies and it guarantees the elimination of unpleasant surprises, as the purchases are converted instantly at the Point of Sale (PoS) terminal to the Cardholder's home currency"- said Mr. Piyush Khaitan, Managing Director, Venture Infotek
India in the recent past has transformed itself to become a hub for inbound foreign travelers. Tourism industry rose from 2.72 mn in 2004 to 4.4 mn in 2006. Tourism has significantly contributed to India's Foreign Exchange Earnings, which grew from US$6.17 bn ( Rs. 27,944 crores) in 2004 to an estimated US$ 11.96 bn ( Rs 49,413 crores) in 2007.
Notes to Editor
Venture Infotek Global Pvt. Ltd. is India's leading ISO 9001:2000 transaction processing and knowledge management company. The company has practically built the Indian third party credit card processing industry from scratch. Having built a dominant position in the Indian Transaction Processing landscape over the past 10 years, Venture Infotek provides integrated end-to-end card payment solutions to organizations across industry verticals like banking, financial services, petroleum, retail and telecom. Venture Infotek manages payment card and other transactions emanating from over 140,000 Merchant locations in India, and managed card issuing programs for over 5,000,000 cards. Last year Venture Infotek processed 150 Mn transactions and commerce of Rs. 35,000 Cr. With a truly pan-India reach from Leh to Port Blair, Venture Infotek services are available in over 6,000 unique PIN codes across the country.