NatWest to expand global marketing alliances for currency business

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London--National Westminster Bank plc will expand its global market alliances for its foreign currency settlement business, said Charlie Boffin, head of international merchant services. The bank will look for local business partners in Latin America, Asia and Africa to help distribute NatWest's currency settlement packages. The bank's currency settlement services, which rolled out in 1992, allow multinational companies dealing in multiple currencies to settle accounts in a single currency. Currently, NatWest works with Dallas-based Paymentech, an Internet credit card-currency processor, to distribute NatWest's currency services in the U.S. and Canada. NatWest will work with its global distribution partners in targeting Net and direct marketing companies with the currency packages, Mr. Boffin said.
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