The Royal Bank of Scotland (RBS) has implemented a new feature for Singapore Airlines (SIA) via its FXmicropay foreign exchange (FX) management solution that allows the airline’s customers to pay for flight tickets and other purchases made online in the currency of their choice.
The new multi-currency initiative was launched in April. The currencies introduced in the first phase include the Australian dollar (AUD), euro (EUR), British pound (GBP), Japanese Yen (JPY), Singapore dollar (SGD) and the US dollar (USD). SIA customers will be able to see the final amount they will be billed, without having to wait for their credit card statement.
“The introduction of multi-currency pricing will enhance the booking and travel experience for the growing number of SIA’s international passengers, through the removal of uncertainties related to currency fluctuations around online transactions,” said Saket Misra, RBS’s head of international banking for Singapore,
The FXmicropay e-commerce pricing solution supports over 130 currencies, is able to handle up to 3,000 transactions per second, 24×7, and can be customised and seamlessly integrated according to the needs of the merchant. To date, RBS has implemented FXmicropay for a variety of online merchants and e-commerce websites including travel-related retailers such as airlines and hotels.
Gyan Harlalka, RBS’s head of corporate sales for Asia Pacific added: “E-commerce has continued to grow exponentially and nowhere is that more apparent than in Asia. As consumers become more digitally empowered and conduct more online transactions, they are likely to start paying more attention to currency movements and wanting to have the choice to select the currency they wish to pay in. RBS’s FXmicropay allows merchants to provide its online customers with certainty and transparency about what they would be charged on their credit card bills. ”
RBS said that it will implement additional currencies for SIA in the second phase in the coming months.
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