American Express FX International Payments system enhanced

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American Express FX International Payments system enhanced

Wed 15th Mar 2006

The American Express FX International Payments system has been redesigned with the intention of improving its flexibility and broadening the service offered to customers.

Primarily aimed at business customers making payments abroad, the system hopes to combine "competitive exchange rates and transaction fees with the convenience of an online service".

Among the new features of the American Express FX International Payments system is a forward contracts facility, which protects customers from exchange rate fluctuations by allowing them to purchase a set amount of currency in advance.

A rate alert service is also offered, which allows users to input a particular exchange rate that they want to use. They will then be notified when this rate becomes available.

Rocco Magno, director of American Express FX International Payments, said: "The enhanced system provides a quick, reliable solution to making payments abroad and puts businesses in the driving seat 24/7."

The total cost of transactions made through the American Express FX International Payments system will be displayed on screen before being finalised.

The system can be used on PCs worldwide and does not require any additional hardware or software.

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