Killarney financial company sign deal in India

28 Apr

MONEX Financial Services, the Killarney-based specialist in multi-currency credit card processing, has signed a licensing agreement with ICICI Bank, India’s second largest bank, to provide its currency conversion software to the bank.

ICICI processes over €700m in credit card transactions per annum and is the latest in a series of Asian contracts for Monex. Monex chief executive Frank Murphy said: “Three years ago, we decided to take our successful business model, as employed across Europe, and target the fast growing Asian market. Our timing was right, and we reaped the benefit of more and more foreign currency, especially euros and dollars being spent by credit card in Asia.”

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