Dynamic Currency Conversion (DCC) is a payment feature that converts a Merchant’s local currency to the equivalent cost in the cardholder’s local currency. The cardholder can review the exchange rate and any associated fees before deciding which currency they want to pay in.
DCC is a service that offers Mastercard, VISA, and Diners customers the choice to pay in their home
currency. There are a number of specific rules set out by the card schemes relating to what information needs to be presented to the customer before they make the choice.
Step 1 – International cardholders automatically are offered the choice to pay in the Merchant’s local currency or their own currency.
Step 2 – The transaction amount is displayed in both currencies the cardholder has the option to pay in.
Step 3 – If the cardholder accepts DCC by choosing their own currency, foreign exchange conversion is applied to the transaction.
There are many benefits to a Merchant offering Dynamic Currency Conversion payments. Benefits include:
To learn how Cardstream can help take your Merchants to the next level, contact us.
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