Over 16,000 merchants to be enabled with Dynamic Currency Conversion (DCC) by year-end, reinforcing South Africa’s position as a tourist-friendly destination.
By the end of 2025, more than 16,000 Standard Bank merchants across South Africa will be equipped to offer international visitors the ability to pay in their home currency at the point of sale, significantly enhancing the country’s appeal as a seamless and welcoming destination for global travellers.
The bank will be expanding its foreign exchange merchant network through the rollout of Dynamic Currency Conversion (DCC) services in partnership with global fintech leader, Fexco.
The DCC service allows international cardholders to view prices and pay in their own currency instantly at the point of sale. This not only improves transparency and convenience but also empowers tourists to make informed purchasing decisions. The rollout will span key sectors including retail, hospitality and tourism, where frictionless payments are essential to customer satisfaction and business growth.
Norman Nyawo, Standard Bank Head of Merchant Solutions says: “South Africa’s tourism sector is more than a contributor to gross domestic product (GDP), it is a gateway to cultural exchange, economic inclusion, and global visibility. By rolling out Dynamic Currency Conversion (DCC) to over 16,000 merchants, Standard Bank is helping to remove barriers for international visitors, making it easier for them to pay with confidence and clarity. This initiative supports our broader commitment to position South Africa as a tourist-friendly destination, where technology and hospitality work hand in hand to deliver a world-class experience.”
This strategic initiative comes at a time when tourism continues to play a vital role in South Africa’s economy. According to Statistics South Africa, Tourism contributed 8.8% to South Africa’s GDP in 2024 and supported 1.68 million jobs locally. With South Africa remaining a top destination for leisure, business, and adventure tourism, enhancing the payment experience for visitors is more important than ever.
The DCC rollout is expected to benefit both tourists and merchants. For international visitors, the ability to pay in their home currency eliminates uncertainty around exchange rates and post-transaction surprises. For merchants, DCC offers a share of the conversion margin, creating a new revenue stream while enhancing customer satisfaction.
This initiative also aligns with Standard Bank’s broader strategy of supporting economic growth through digital transformation and financial inclusion. By leveraging technology to improve the payment experience, the bank is helping South African businesses become more competitive in the global tourism market.
Sean Crowe, CEO of Fexco Financial Services says “This launch represents a major milestone in our journey to bring world-class DCC solutions to South Africa. Our partnership with Standard Bank is built on shared values of innovation, reliability, and customer-centricity. We’re proud to support their merchants with a solution that enhances the payment experience for international visitors and drives incremental value for businesses.”
The DCC service will be available at a wide range of merchant locations, including hotels, restaurants, retail outlets and tourist attractions. This broad coverage ensures that international visitors can enjoy a consistent and convenient payment experience throughout their journey in South Africa.
Fexco’s technology is already trusted by acquiring banks and payment service providers across Sub-Saharan Africa, and its partnership with Standard Bank marks a significant milestone in its regional expansion. With this deployment, Fexco now supports 75% of South Africa’s acquiring market, underscoring its long-term commitment to the region.
The partnership with Fexco, a global leader in financial technology and DCC solutions, reflects Standard Bank’s commitment to innovation and customer-centric financial services. Fexco’s technology will be integrated into Standard Bank’s merchant network, enabling real-time currency conversion for international cardholders and unlocking new revenue opportunities for South African businesses.
About Fexco
Recognised as one of the world’s original and most established fintech players, Fexco employs over 2,800 people across its suite of companies headquartered in Killorglin, Co. Kerry located in the South-West of Ireland. Founded in 1981, Fexco now has operations in 50 countries across Europe, the Middle East, Asia-Pacific, North America, and Latin America.
Fexco serves some of the world’s biggest brands across multiple industries in Payments, through a wide range of innovative products and services including Dynamic Currency Conversion (DCC), Multi Currency Pricing (MCP), International Payments, Retail FX, and payUnite; in Business Services through bespoke Managed and Advisory Services, Property Services management and Aviation Services; and in Innovation & Ventures, developing products and services for Fexco’s core businesses and new ventures.
Since its inception, Fexco has been driven by an entrepreneurial and innovative spirit. This ethos has brought the company to new regions and industries of growth, connecting customers with exciting new opportunities. Through its commitment to partnership and innovation, the company has built an international network of customers. To find out more, visit www.fexco.com
About Standard Bank Group
Standard Bank Group’s strategic position, which enables the bank to connect Africa to other select emerging markets as well as pools of capital in developed markets, and its balanced portfolio of businesses, provide significant opportunities for growth.
As at 30 June 2025, Standard Bank Group had 19.2 million clients, employed over 50 000 people (including Liberty) and had over 1 180 points of representation and over 5 400 ATMs across the African continent. The group’s largest shareholder is the Industrial and Commercial Bank of China (ICBC), the world’s largest bank, with a 19.7% shareholding. In addition, Standard Bank Group and ICBC share a strategic partnership that facilitates trade and deal flow between Africa, China and select emerging markets.
For further information, go to http://www.standardbank.com
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