Global Refund launches FCC point-of-sale currency service

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First Currency Choice (FCC), a new currency exchange service launched today in London, promises a new era for travelling shoppers, enabling them to make Visa and Mastercard purchases with the security of paying in their home currency anywhere in the world.

The first service of its kind, FCC eliminates the uncertainty associated with exchange rate fluctuations for international travellers. Retailers and merchants and FCC are able to benefit from the foreign exchange gains on the money markets. There are no actual charges to the retailer or consumer.

Launching in the UK intially, FCC is expected to roll out to domestic and duty-free retailers worldwide in the next two years, with a Singapore operation opening for Asia/Pacific in early 2002.

FCC managing director is Asad Jumbahoy, former head of the Scotts-Weitnauer duty-free operation in Singapore. Commenting at the launch today he told TRW: "Its all about the customer. FCC will revolutionise credit card commerce for the international traveller at the point of sale.

"Simple yet efficient, the system makes it far more attractive for customers to shop abroad and the retailer benefits."