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Elavon Inc., a processor and acquirer owned by United States-based U.S. Bancorp, has launched its "dynamic currency conversion" service for merchants in Germany, an Elavon spokesperson tells CardLine Global. The service can convert transactions into 27 currencies, including U.S dollars, euros and UK pounds. The service is designd to appeal to hotels and other businesses that "attract a large volume of international customers," the spokesperson says. Elavon already offers similar services in such European countries as the UK and Ireland. "As a single source provider, Elavon manages the entire conversion process, from direct treasury exchange rates and transaction processing to back-end reconciliation, settlement and funding," the firm said in a statement Tuesday. Late last year, Elavon said it would like to expand beyond the U.S. and Europe into Southeast Asia (CardLine Global, 15 Dec. 2008).
