CrediMax in collaboration with FEXCO has launched the new Dynamic Currency Conversion (DCC) service.
Dynamic Currency Conversion (DCC) or Cardholder Preferred Currency (CPC) is a financial service in which the cardholders have the cost of a transaction converted to their local currency when making a payment in a foreign currency.
Currently this feature is only possible for Visa and MasterCard networks.
- The exchange rates are sourced from Reuters, a globally recognised provider of foreign exchange rates
- The Reuters Wholesale Interbank exchange rates are competitive and comparable with those used by card issuers.
- These rates are updated six times daily to ensure that the cardholder receives the most appropriate exchange rate at the time of the purchase
Benefits of DCC
- Make payments in a familiar currency
- Purchase with full knowledge of the exchange rate applied to the transaction
- Receive competitive exchange rate based on Reuters Wholesale Interbank rate
- Match the exact sales amount with what appears on their cardholder statement without hidden charges or fees
- Obtain enhanced customer service
Merchant Back Office