Currency Conversion Payment Processing

Take Your Business Global.

Accept Payments in Any Currency!

NTC has the solution you need to expand your horizons and accept payments not just in familiar US /Canadian markets but truly worldwide.

Ambition is a trait we admire! We built our business - NTC – with the aim of supporting ambitious business owners to reach their full potential. This aim is at the core of who we are and everything we offer.

Nothing could be more ambitious than the desire to take a business global! It doesn't matter whether you're a start-up, an established company looking to push into new markets or a world-wide brand in need of a flexible and responsive way to handle multi-currency payments. Whatever point you're at we have the solutions you need to drive your business forward.

How Does Dynamic Currency Conversion Benefit My Customers?

As a global network the internet already allows customers anywhere in the world to buy from a US website using a Visa/Mastercard... But since exchange rates are fluid many international customers are deeply uncomfortable when presented with pricing in a currency other than their own. If your website only displays prices in $USD we guarantee you are losing out on international sales.

DCC overcomes this hurdle by allowing online retailers to present prices in the buyer's own currency. This provides multiple benefits:

1) The buyer is put at ease by the use of a familiar currency.
2) The buyer is able to understand your pricing and properly evaluate the value for money offered by your products or services.
3) The buyer is not alienated and made to feel undervalued by a website that forces them to research exchange rates themselves.
4) The buyer remains on your page throughout the buying process... Even navigating away briefly to check on conversion rates can be enough to break a buyer's engagement with your site and lose you a sale!
5) The buyer is given the positive impression that your business is used to trading in their country and currency.

That Sounds Great but I Already List Prices in Several Key Currencies!

Some websites overcome this issue by listing prices in multiple currencies. Others deliver a variant of their webpages based on a user's location. The problem with using this approach without integrating DCC is that you lose out on the 'Dynamic'.

The real beauty of DCC as a currency conversion solution is that your prices are displayed at a consistent value in terms of $USD. With DCC in place when the currency markets shift your prices shift adaptively.

Let's look at a simple example to explain how this works:

Say you sell hats wholesale... You buy from a manufacturer at $5 per hat and apply a $5 markup. You price your hats online at $10 in the USA. So far so simple...

You have costs involved in the selling process so your actual profit per hat is $2. Your $5 markup translates to a $2 margin.

This is OK provided you sell enough hats and your margin isn't squeezed any further.

You also sell hats to the UK market. You set a £GBP price a couple of months back based on the conversion rates at the time and you give UK buyers the option to buy at this pre-set price.

One day you wake up to find you just sold 1000 hats to a company in the UK… great news! Then you check the currency markets and see that the pound just dropped against the dollar and there goes your margin.

Now let's see how the exact same sale works out with DCC in place:

You still sell hats at $10 a time in US - that's never going to change

But when you sell your hats into the UK market the price paid in £GBP varies according to the position of the currency markets. DCC can't stop currencies shifting but it can adjust your pricing accordingly.

How Does DCC Work

A DCC system works by displaying prices to your customers in their own currency. Your prices are always set in $USD and converted to your users preferred local currency. The 'D' in 'DCC' stands for 'dynamic' - because the system tracks movements in the currency market and adjusts your pricing dynamically. This is achieved via a Bank Reference Table (BRT) - sometimes called a Card Recognition Table (CRT). A BRT is a table of relative currency values. It's updated each day meaning fluctuations in the market are regularly priced in when you sell internationally.

From your customer's perspective the system is flexible and user friendly. A buyer on your site can toggle between supported currencies to display prices in whatever form they are most comfortable.

From your perspective the system is robust and provides a great safety net against unfavorable currency shifts. Even if the user selects a currency other than their own the system responds proactively. By recognizing the origin of the card and the currency being used for the purchase DCC will always set the appropriate exchange rate at the point of purchase.

Is the Process Clear and Transparent for My Customers and Me?

Absolutely! Enhanced transparency is one of the main benefits of DCC. Both the customer and you, the merchant, have a clear understanding of what price is being paid for the products or services you sell.

The system works perfectly for invoicing or receipt generation too. The purchase price is displayed in the buyer's own currency and the applicable exchange rate is clearly shown.

We understand that consumers can be cautious when buying online from an international seller. This degree of transparency helps build a sense of trust and puts your customer at ease. Right the way from browsing to checking-out your pricing structure is made simple, intuitive and easy to understand.

When it comes to the merchant DCC greatly improves simplicity. Every transaction is ultimately handled in $USD and you sell at a consistent, predictable price-point. If you need to analyze your sales data more closely you can easily view the exchange rates and pricing applied to each customer's purchase.

By staying up to speed on your pricing you can ensure you continue trade effectively, competitively and profitably. Our DCC solution gives you the clarity and confidence you need to reach out and exploit the global marketplace.

• National Transaction Corporation
• April , 2024 | 2024-04-19