Cardholder Present
The majority of the world’s credit card transactions still occur in a physical environment where the cardholder physically presents their credit card to a merchant . FEXCO’s Dynamic Currency Conversion (DCC) is integrated across all major merchant verticals including hospitality, retail, travel and entertainment . FEXCO Merchant Services has also integrated its DCC service across all major Point of Sale terminal devices and integrated solutions (standard and bespoke) giving merchants and acquirers alike a truly out of the box financial and technical DCC solution.
DCC- A cardholder benefit
The biggest challenge when making a purchase abroad is to know the actual cost of an item. Depending on the foreign exchange rate and charges used by the issuing bank and the card scheme, the final amount of the item that will be deducted from a customer’s account can be hard to calculate.
With Dynamic Currency Conversion (DCC), an international customer can benefit from knowing the exact sales amount of the transaction at the point of sale.
When the customer is making a purchase in a location that offers DCC, they will be given the option to make the purchase in their own currency or the local currency. When the customer opts to pay in their own currency rather than the local currency, they have the benefit of knowing the exact sales amount of the transaction. DCC is also an excellent value add for business travellers who want to simplify their expense management by doing all their transactions in their home currency. For the merchant and the Acquiring bank, these transactions give the customer the confidence of knowing the exact purchase amount while at the same time the merchant and the acquirer benefit from the transaction.
As well as having integrated our DCC solution with all major Point of Sale terminal devices and integrated solutions, FEXCO Merchant Services also offers terminal solutions to merchants in the UK and Ireland. For further details, please view Terminal Solutions: Ireland & UK
