Kerry firm signs Hertz deal

A Kerry-based company has signed a deal with car rental firm Hertz that will create a number of new jobs in Ireland.

Monex Financial Services, which is based in Killarney and is involved in multi-currency and card processing, will provide its multi-currency treasury management software systems to Hertz in Europe to allow customers to convert their credit card transactions into their own currency when they pay.

The deal will add an extra €1.5 billion in turnover to the more than €8 billion Monex processes on behalf of global clients. The Killarney office already facilitates 46 million individual credit card transactions for clients such as Ryanair, Ritz Carlton Hotels and the Dublin Airport Authority.

A total of 14 jobs will be created in Ireland and other countries over the duration of the Hertz contract.

"The Hertz deal is an important contract for Monex as it associates our service offering with another major blue-chip global business and internationally recognised customer brand," said Monex chief executive Frank Murphy.

"Monex has set itself ambitious targets for new business development across our prime target market, the international hospitality and travel sector."

Monex Financial Services was set up in Killarney in 1997 and now operates in 19 countries worldwide. It currently employs 150 people.