The Royal Bank of Scotland plc (RBS) and Fujitsu Asia have announced a partnership that will see a financial solution of RBS more widely used in the region.
Under the agreement, Fujitsu Asia will distribute the FXmicropay solution of RBS and act as its systems integrator for the Asia Pacific region.
FXmicropay is a patented and multi-currency service that directly links the client's merchant sales systems into the wholesale FX systems of RBS. This capability allows clients to get competitive FX rates and create new revenue streams instead of losing the FX margins to credit card companies. With FXmicropay, the goods and services purchased are priced in the customers' local currency wherever they are in the world. This, in turn, improves the customer experience and increase conversion rates, RBS said.
RBS said FXmicropay is already widely used by RBS clients in the region. With the partnership with Fujitsu, RBS hopes to" further develop this client base and enhance the customer experience," said Jamie Salamon, head, FICC E-Commerce Asia Pacific, RBS.
Fujitsu said the RBS FXmicropay solution, which is ideal for merchants processing cross-border transactions, could complement the other solutions that Fujitsu is bringing in with their systems integration business.
Said Adam Trill, application services director, Fujitsu Asia: "We are excited about working with RBS to build on the existing successful FXmicropay business in the Asia Pacific. FXmicropay is a valuable solution for merchants with a high volume of cross-border online business, and we believe Fujitsu's market leading business solutions and systems integration business will complement the product well and increase market penetration."
RBS added that the partnership with Fujitsu will benefit both companies and their clients.
"The combination of FXmicropay's market leading features with Fujitsu's strength and experience in the Asia Pacific will enable us to expand the business to the benefit of RBS, Fujitsu and our clients," said Adrian Brown, channel development manager for FXmicropay, RBS.
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