Typically, credit card payments are made in the currency where the transaction occurred and converted later to the buyer’s home currency, with the cardholder paying a conversion fee.
Now there’s a smart alternative: Dynamic Currency Conversion (DCC) from Elavon.
DCC will improve service for your international customers as they will know exactly what their total purchase is in their home currency at the time you process the transaction. Conversion rates are typically much more competitive than those at money exchange booths or hotels. Each receipt shows the purchase amount in your currency, the conversion rate,and the total amount in the cardholder’s home currency.
Merchant Benefits as DCC pays you back: DCC is absolutely free via One Cost and all DCC transactions will create a revenue stream! This works by our merchant provider sharing the income generated by processing foreign transactions, by rebating a percentage of the conversion rate to you on your monthly processing statement. The more international business you do, the more you improve your bottom line.
Saving Money – to see if One Cost can improve your credit card rates whist offering DCC as well, simply contact us to register your interest. Remember, you dont need to change banks if you switch your merchant provider.