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Fexco announced today that it is creating 175 jobs over the next three years at its headquarters in Killorglin.

The jobs will be in the areas of information and communication technology, software development and sales as part of the payment firm's expansion strategy.

Fexco was started in Killorglin in 1981 by Brian McCarthy, who saw the huge volumes of US, British and German tourists passing through the town.

He decided to leave his job as a bank manager to compete for a slice of the foreign exchange market.

Today, Fexco has operations in 29 countries, employing 2,300 people, with 1,000 of them based in Killorglin.

This expansion is supported by Enterprise Ireland, backing the company’s ability to innovate and the new staff will work on products that are only now at inception stage.

Fexco is one of the world’s longest-established financial technology companies, with its expertise in the area of foreign exchange expanding into dynamic currency conversion, multi-currency pricing and tax-free shopping.

Chief Executive Denis McCarthy said Fexco and other companies from the region represented Irish businesses on the world stage, which continued to lead and compete internationally.

"Those seeking new opportunities outside of the major cities can enjoy the benefits of our unique location including access to a variety of housing, schools and third level institutes, social amenities, state of the art transport infrastructure, significantly reduced traffic volumes and of course one of the most beautiful vistas in the world," he said.