Monarch's strategic partnership with FairFX

RNS Number : 9103F

FAIRFX Group PLC

02 August 2016

 

FairFX Group plc

("FairFX" or "the Group" or "the Company")

Holidaymakers to benefit from Monarch's strategic partnership with FairFX

Holidaymakers will save money on travel and benefit from a better customer experience, thanks to a new partnership between Monarch and FairFX.

Leading UK independent airline group Monarch is pleased to announce it has signed an agreement with FinTech low-cost multi-currency payments service FairFX to mutually promote each other's products, helping holidaymakers get better value for money in the wake of the EU referendum.

At a time when consumers are particularly eager to make their money stretch further, the partnership will enhance customer experience by offering a broad product range and innovative technology from two trusted brands.

Under the agreement, Monarch will promote FairFX international transfers, cards and travel cash. In return, all Monarch customers will benefit from preferential exchanges rates and FairFX Currency Card offers. Customer experience will also be improved with tips and advice available for all aspects of their holiday.

FairFX was recently voted Most Trusted Prepaid Card Provider by Moneywise, selected over competitors in the prepaid card space such as Travelex, Thomas Cook and the Post Office.

Ian Stafford-Taylor, CEO of FairFX, said: "We are delighted to enter into this agreement with Monarch, which will involve cross-promotion and more efficient marketing of our products.

"This is of clear benefit to both companies, but most importantly to the consumer, who will benefit from greater choice and increased control over their holiday spending.

"By partnering with such a prestigious airline we will increase brand awareness for FairFX, meaning more holidaymakers will be able to save money by using our products and services. In turn, Monarch can have full faith that their customers will receive the best FX rates, products and services."

Hugo Vicente de Freitas, Retail Product Development Manager at Monarch, said: "We are pleased to announce FairFX as our new travel money provider, offering customers the chance to purchase currency cards, make international payments and order travel cash.

"Choosing FairFX as our travel money provider is aligned with our focus on ensuring the very best for our customers and helping to make their trip easy, convenient and safe when travelling abroad."

-ENDS-

FairFX Group plc Ian Strafford-Taylor, CEO	[phone]
Cenkos Securities plc Max Hartley/Callum Davidson	[phone]
Yellow Jersey PR Charles Goodwin Aidan Stanley	[phone] [phone]

Notes to editors

About Monarch

Monarch is a leading UK independent airline group. The company includes a scheduled airline, in-house tour operator and an award-winning engineering division.  Flying from 5 UK bases, London Gatwick, Birmingham, Manchester, Leeds-Bradford and Luton where it is headquartered; the airline offers 7million sector seats to leisure destinations.  The tour operating division offers package holidays across the airlines scheduled network focussing on beach, city and ski breaks.

About FairFX

FairFX is a leading international payment services provider, incorporated in the UK in 2005. The Company has developed a cloud-based peer-to-peer payments platform that enables personal and business customers to make easy, low-cost multi-currency payments in a broad range of currencies and across a range of FX products all via one integrated system. The FairFX platform facilitates payments either direct to Bank Accounts or at 30 million merchants and over 1 million ATM's in a broad range of countries globally via Mobile apps, the Internet, SMS, wire transfer and MasterCard/VISA debit cards.

FairFX operates within the rapidly growing online multi-currency payments market and provides transactional services to both personal and business customers through four channels being Currency Cards, Physical Currency, FairPay and Dealing. The Currency Card and Physical Currency offerings facilitate multiple overseas payments at points of sale and ATM's whereas the FairPay and Dealing products support wire transfer foreign exchange transactions direct to Bank Accounts.

For Corporates, FairFX has a market-leading business-expenses solution based around its corporate prepaid card allied to a platform allowing the Corporate to better control expenses and improve transparency whilst removing administrative burdens from staff.

In addition, FairFX has entered into a number of "white-label" arrangements for the use of its P2P matching platform. Customers include easyjet, ThinkMoney and Pitney Bowes. FairFX has also partnered with Concur Technologies, Inc. a leading provider of integrated travel and expense management solutions with over 25 million users globally. Such relationships provide strong support for FairFX's customer acquisition strategy.

 www.fairfx.com

 

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