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Fexco Pacific is your Currency and Payment Specialist in the Pacific
The Pacific region comprises island countries varying in land sizes, economy, cultures, and available natural resources. According to the World Bank, Pacific island countries share similar challenges and opportunities as remote island economies. These country islands are scattered across the vast Pacific Ocean that significantly influences each country’s social, ecological, and economic aspects.
Tourism is the main economic activity in the Pacific, with 3.16 million visitors in 2018, which contributed US$3.8 billion. Each island country boasts an impressive view of the beach with pristine turquoise water, a long stretch of fine white sand, and rich marine life. However, every country has something unique to offer to tourists. Fiji’s Bouma National Heritage Park on the island of Taveuni is about 150 kilometers of rainforest where nature lovers, hikers, and birders can spend time and adore the place’s natural lush beauty.
On the other hand, Tonga is one of the few places in the world where you can swim with the whales. Humpback whales return to Tonga from July-October to give birth to their young. Vanuatu is known for being home to some of the world’s best diving adventures – whether dive among corals or historical wrecks. In Vanuatu’s underwater world, you can explore natural wonders like the Twin Bommies and underwater volcanoes and shipwrecks like the world-famous SS President Coolidge and Tasman. In Samoa, you can discover age-old culture and traditions fun and interactive at the Samoa Cultural Village in Apia. Samoans are proud of their Fa’a Samoa – which means the Samoan Way.
Apart from tourism, Pacific Island’s economy is also dependent on agriculture and fishing. Whereby products are consumed domestically and exported to neighbouring countries and other parts of the world. Australia and New Zealand are the top key export destinations. Squash, coconut, bananas, taro, yams are some of the essential crops exported. Moreover, remittances from overseas workers also boost the region’s economy. Tonga, in particular, heavily relies on remittances as it makes up nearly 33% of the country’s GDP. Tourism, exportation, and remittances bring in much needed foreign exchange in the region.
Unfortunately, tourism and the general economy was significantly impacted by the outbreak of COVID-19. Therefore, Fexco Pacific aims to contribute to the recovery of tourism and businesses in the Pacific by being the premiere currency and payments solution provider in the markets where we operate.
Fexco Pacific is part of the Fexco Group – a world leader in innovative FinTech, Payments & Business Solutions, with operations across 29 countries worldwide. Our success comes from a winning combination of local teams delivering services on the ground, with a team of specialists in New Zealand and Ireland providing support on technical areas and world-class technology solutions, which means our customers are always in good hands. We are a financially strong business giving our customers the confidence to use us for their foreign exchange and payment needs.
We are focused on delivering money transfer, currency exchange, and international payment services to Governments, non-profits, businesses, and individuals in the Pacific region. We process millions of transactions worth over US$1bn annually to thousands of customers across our network of company-owned flagship locations and sub-agent partners. We understand the vital part remittances play to the Pacific’s people and economies and the vibrant tourism industry’s value. We aim to be in as many countries and communities as possible, helping more and more people access these basic financial services, which will help improve financial inclusion in the region.
As we celebrate 10 years of service to the Pacific, we look forward to another decade of growth, innovation, and world-class customer experience.
Our Company Vision offers convenient and reliable money transfer, payments solutions to customers in the Pacific region.
We will have the broadest retail footprint, complemented with a growing pipeline of services from emerging digital channels. Our services help our customers access vital remittances with friends and families worldwide and help communities and businesses to benefit from the vibrant tourism, expanding international trade, and growing economies in the region.