The Dynamic Currency Conversion offers the cardholder the option of paying in their own currency, while creating an additional revenue stream for the merchant. Specifically, traders determine the price of a product in their base currency and the customer has the choice of currency at time of payment – prior authorization – based on the selection of payment made by the customer.
How it works?
The system automatically detects a foreign card and provides the holder the option of paying in the currency of the country in which the card was issued. If the holder agrees the system submits the transaction to your partner of currency conversion for the exchange (convert pounds to dollars, for example). The price paid by the holder will be its currency from daily conversion rate.
If the holder agrees the system submits the transaction for currency conversion exchange (convert pounds to dollars, for example). The price paid by the holder will be its currency from daily conversion rate.
The cost for the buyer is the same – currency exchange being moved from his bank to yours.
13 coins are currently available. Other currencies should be added soon.
What are the benefits of dynamic currency conversion?
You only have one account with your base currency. It is not necessary to have multiple accounts in different currencies established. All this greatly reduces the amount of administration.
Ease of integration
You do not need to change how your prices are displayed on your website; automatic currency conversion occurs before the card authorization.
The client knows in advance the exact amount that will be charged on the card.
An income opportunity
In the process of currency conversion, you will be able to receive a commission from the supplier currency conversion.
Your client can either pay in the currency of their card or in your currency.
The service dynamic currency conversion is available for call centers or on a website.
Originally posted 2013-04-25 06:23:58. Republished by Blog Post Promoter