Forex made easy online

THE American Express Foreign Exchange Representative in South Africa has announced the launch of a new e-commerce product on September 1. The company says that over the last few months it has been developing a leading edge foreign exchange quoting, ordering, tracking and management 'engine' called 'Travel FX' that caters for client needs across all viable e-commerce platforms. The core services of Travel FX include: *Exchange Rate Displays: Displays of all up-to-date buying and selling rates for traveller's cheques and cash in over 35 currencies; *Quoting: The total price quoted by the Travel FX Foreign Exchange Calculator is the price that the client will pay and not just an approximation; *Ordering: Customers can order a multiple of foreign currencies in traveller's cheques, cash or drafts; *Monitoring: Clients can monitor the progress of their purchase online; *Encashment Information: Travel FX provides the address and telephone contacts of the nearest encashment point for clients. There are over 100 000 locations worldwide. American Express has partnered with Galileo SA which ensures that travel agents receive a segment credit each time they order foreign exchange on behalf of their clients using Travel FX. The company concluded the service would be quick and easy to use, was customer interactive, provided a wide range of customer utilities and could be administered from a central location. (Miguel de Sousa)