Why Choose GPS Multi-FX Cards and Wallets?
The GPS Apex platform gives you the ability to deliver a compelling and transparent multi-currency customer proposition through the easy control of exchange rates.
How does a GPS FX Card and Wallet function?
A Multi-FX card is a single payment instrument (virtual or physical) with which there are simultaneously different balances in multiple currencies associated, with one of these currencies defined as the ‘base currency’.
The collection of currency balances together forms the ‘FX Wallet’; a single dynamic payment product which offers the ability to transact and more crucially, settle in multiple wallet currencies.
Optional real-time control and programme differentiation
You can control your Multi-FX programme using our Real-Time Data Feed (External Host Interface).
This gives you direct access to real-time transaction data that can truly differentiate your programme and user experience. Real-time data enables you to:
• Hold the FX wallet balances and perform all forms of load, balance adjustment and card linkage
• Participate in the authorisation decision-making through real-time access to authorisation requests and financial clearing messages
• Integrate bespoke decision logic such as enabling cardholders to tailor usage limits, additional features and controls
Transact and settle in multiple wallet currencies
Example 1: Transacting in JPY with a Euro Base Currency Card
If a customer with a card created under the following wallet structure chooses to transact in Japanese Yen, provided that there is a positive balance in their JPY wallet, there will be no need for currency conversion at the point of sale. This means the cardholder has total visibility over the amount they are being charged and how much their balance will be deducted, making it easier to manage money abroad, or while travelling.
Example 2: Flexible, Seamless Spending
If the customer does not hold a positive balance in their JPY wallet, but does have sufﬁcient funds on their USD balance, the transaction can still proceed.
You can deﬁne the rate to be used when converting funds from one FX wallet to another, and the rate to be used if the cardholder spends in a non-wallet currency (CHF, for example).
Control and configure
Choose from two Multi-FX options, depending on your programme needs:
• Load onto the account in the base currency to increase the balance of the base currency wallet.
• Load directly to any of the associated currency wallets.
Benefits for your cardholder
• Simplified spending with separate wallet balances in multiple currencies on a single card
• Ability to move money between wallet balances
• Control over when to load funds to a particular currency – the ability to wait for a rate they like
• Option to automatically transfer from base currency if there are insufficient funds to cover a transaction in a wallet currency – a seamless cardholder experience that doesn’t require a cardholder to be an FX expert in order to effectively use an FX product.