Currency Management
A seamless payment experience for your international customers
Why use our Currency Solutions?
If you support just one currency in your payment process, you can still accept payment from foreign currency cardholders. However, the currency exchange rate will not be applied until the funds are removed from the cardholder’s account. This means that your customer cannot know the exact cost of their purchase at the point of sale.
If you expect to make a lot of sales in currencies other than your own, you can solve this problem by using Dynamic Currency Conversion or Multicurrency management
Dynamic Currency Conversion (DCC)
At the point of sale, the customer is shown the current exchange rate and the converted transaction amount. They can then decide if they want to pay in their own currency at this exchange rate.
- Transparency – your customer has visibility over the applicable exchange rate at the point of sale
- Provide a wide range of currencies without the need to maintain multiple price lists
- Earn commission on the exchange rate margin.
Multicurrency
Multicurrency allows you to price in the currencies that you want to support.
- Improved customer experience – you can show the customer their own currency throughout your site
- Customer is not affected by fluctuating exchange rates
- Can be used for online or telephone payments.
Additional Features
Reporting
Manage payments of all currencies through one simple interface. Run reports on individual currencies, and view the exchange rates applied for DCC transactions.
Funding Options
For DCC, you require just one bank account for receiving transaction funds. With Multicurrency, you can choose to be funded in your own currency or in multiple currencies.
