Standard Bank Expands Merchant Network: Interview With Head of Merchant Solutions: Norman Nyawo

Standard Bank Expands Merchant Network: Interview With Head of Merchant Solutions: Norman Nyawo. In a rapidly evolving digital economy, seamless payments are no longer a convenience, they’re a necessity. At the forefront of this transformation is Norman Nyawo, Head of Merchant Solutions at Standard Bank, who is driving one of the bank’s most impactful innovations to date: the rollout of Dynamic Currency Conversion (DCC) across more than 16,000 merchants in South Africa. Startup Mag recently had a conversation with Nyawo to discuss how Standard Bank’s partnership with Fexco, a global leader in payment innovation, is redefining commerce across the retail, hospitality, and tourism sectors. He also shares insights into how DCC empowers small businesses, drives financial inclusion, and contributes to the broader vision of building Africa’s digital economy. Read about it below!

The rollout of Dynamic Currency Conversion (DCC) to over 16,000 merchants is a major milestone. What inspired Standard Bank to pursue this initiative, and how does it align with your broader digital transformation strategy?

The rollout of DCC is a strategic move aligned with Standard Bank’s broader digital transformation agenda. It reflects our commitment to enhancing customer experience through innovative payment technologies. By enabling international visitors to pay in their home currency, we are removing friction from the payment process an essential step in modernising commerce and supporting South Africa’s global competitiveness.

You’ve mentioned that this initiative enhances South Africa’s positioning as a tourist-friendly destination. How do you see improved payment convenience influencing the country’s tourism competitiveness?

DCC enhances South Africa’s appeal by offering international visitors clarity and confidence at the point of sale. Eliminating exchange rate uncertainty and post-transaction surprises improves the overall travel experience, positioning South Africa as a technologically advanced and tourist-friendly destination.

The partnership with Fexco brings advanced fintech capability into the South African market. What made Fexco the right strategic partner for this initiative?

Fexco was selected for its global leadership in DCC and its proven track record of secure, scalable integrations. The partnership is built on shared values of innovation, reliability, and customer-centricity. Fexco’s technology supports 75% of South Africa’s acquiring market, making it a natural fit to deliver tailored payment solutions across sectors like retail, hospitality, and tourism.

Beyond tourism, will DCC be extended to other sectors such as e-commerce or transport, and if so, what are the long-term goals for expanding this service?

While the initial rollout focuses on card present merchants in tourism-heavy sectors, Standard Bank’s broader digital strategy includes expanding DCC to e-commerce.

For small and medium-sized merchants, what are the key benefits of enabling DCC and how does Standard Bank plan to support their onboarding and adoption?

For SMEs, DCC offers:

• A new revenue stream via a share of the conversion margin. *
• Enhanced customer satisfaction through transparent pricing.
• Competitive differentiation in tourist-heavy areas.

Standard Bank supports onboarding through tailored merchant solutions, training, and integration support. Our SME strategy also includes digital tools like SimplyBlu and MyMoBiz, which help businesses grow through payment innovation and data insights.

The DCC service offers merchants a share of the conversion margin. Could you explain how this model creates value for businesses while maintaining transparency for consumers?

Merchants earn a portion of the conversion margin when customers opt to pay in their home currency. This model is transparent customers see the exchange rate and final amount before confirming the transaction.

How does this rollout contribute to Standard Bank’s broader mission of financial inclusion and digital empowerment, especially for businesses in the tourism value chain?

It reduces barriers for international transactions and promotes digital literacy among merchants. This aligns with Standard Bank’s mission to drive financial inclusion through technology, enabling more businesses to participate in the formal economy and benefit from global tourism flows.

South Africa’s tourism sector supports millions of jobs. How do initiatives like this one help sustain or grow employment opportunities in hospitality, retail, and related industries?

By improving the payment experience, DCC encourages higher tourist spending and repeat visits. This drives demand across hospitality, retail, and transport sectors, supporting job creation and business growth. As more merchants adopt DCC, the ripple effect strengthens the entire tourism value chain, from frontline staff to supply chain operators.

From a technology standpoint, what steps are being taken to ensure the reliability, security, and seamless integration of Fexco’s DCC platform into Standard Bank’s merchant ecosystem?

Fexco’s DCC technology integrates via secure APIs and Android-based apps, ensuring seamless deployment across merchant systems. The platform adheres to global compliance standards and benefits from over 40 years of implementation experience. Standard Bank’s own digital infrastructure backed by cloud and AI investments ensures robust security, scalability, and performance.

Looking ahead, what role do you see innovation in payments, such as DCC, contactless payments, or digital wallets, playing in shaping the future of Africa’s tourism and retail economies?

These innovations are central to Africa’s digital economy. They reduce friction, increase financial inclusion, and enable businesses to serve a global customer base. As mobile and digital adoption accelerates, solutions like DCC and digital wallets will redefine how tourists and locals transact making payments faster, safer, and more accessible. Standard Bank is committed to leading this transformation through strategic partnerships and continuous innovation.