Pure Commerce, an international payment solutions provider, has formed a strategic alliance with independent credit card acquirer Tyro Payments, to deliver an innovative multi-currency EFTPOS solution designed specifically for Australian tourism and hospitality merchants to reduce the costs of accepting credit cards and earn a new revenue stream.

This EFTPOS solution integrates Pure Commerce’s fxChoice dynamic currency conversion (DCC) services onto Tyro’s EFTPOS terminals to give merchants the ability to display and convert payments made by foreign tourists from Australian dollars to their home currency at the point of sale. This will help merchants to improve customer service by reducing currency confusion often faced by tourists when making a payment.
The service will also provide a welcomed new revenue stream to the tourism industry as it faces uncertain times resulting from the global financial crisis. It enables tourism merchants to offset the expected drop in tourism revenue with foreign exchange commissions on every international transaction converted.
According to the Global Market Monitor report by Tourism Australia, the full impact of the crisis on Australian tourism will not be felt until February 2009 onwards.

“With uncertain times ahead, hospitality and tourism merchants will be looking at ways to cut costs and improve efficiencies,” said Daniel Lavecky, CEO of Pure Commerce.

"This flexible payment solution from Pure Commerce and Tyro will reduce the cost of accepting credit cards by up to 50 per cent."
Implementing the multi currency EFTPOS solution is simple for the merchant as they still continue to receive settlements as normal in Australian dollars and they are not required to change banks.