Dynamic Currency Conversion (DCC) allows a merchant to sell goods and services priced in their own currency while offering an international shopper the choice to pay in their own billing currency.
DCC provides certainty of exchange rate, convenience and choice for the shopper while providing the merchant with an opportunity to share in the foreign exchange conversion margin. Normally, the foreign exchange conversion margin is lost to the merchant and captured by the participating card schemes and/or card issuer. DCC is a way for merchants to retain some of the "lost" foreign exchange margin while also providing a valuable service to their shoppers.
DCC for merchants works in both physical POS and online e-Commerce environments. DCC also works on ATM channels for acquirers and ATM deployers to derive additional revenue from cross-border card payments via eligible card schemes.
Our "Welcome to DCC" booklet is tailored for our Australian merchants but is also an excellent introduction to DCC. Please download it here.
Our DCC engine allows card acceptance points to obtain online exchange rates for the DCC offer. Our https:// XML-based interface provides easy interfacing. For payment terminals and legacy acquirer transaction processing systems, we also provide a traditional ISO8583-based message interface.
Acquirers can add our DCC engine to their arsenal on an outsourced basis, as well as our back-end authorisation, clearing and settlement capability for multi-currency transactions. Our capability allows merchants, PSPs and acquirers support DCC without having to learn the intricacies or build custom functionality.
The end-to-end DCC process flow is illustrated below for an online e-Commerce channel. The principle is the same for physical POS or ATM channels:
Please contact us for a confidential assessment of your potential for DCC revenue today.