Multi-Currency Processing (MCP) enables a merchant to sell goods and services priced in various currencies, and receive funds settlement for card payment in their original sale currency. This benefits the merchant by:
MCP is especially relevant for e-Commerce, especially in a globalised world with transparent cross-border sales of goods and services. Currency Select’s MCP capability is available to merchants through selected acquirers, and also to new acquirers wishing to provide MCP offerings to their merchants.
Our MCP engine allows merchant shopping carts and catalogues to obtain online exchange rates for re-pricing into multiple target currencies. Our https:// XML-based interface provides easy interfacing. Acquirers can add our MCP 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 MCP without having to learn the intricacies or build custom functionality.
The end-to-end MCP process flow is illustrated below:
Please contact us for a confidential assessment of your potential for MCP today.