January 26th, 2015 by Elma Jane
Accept Electronic Payments in Their Currency,
Convert it to Yours
DCC or Dynamic Currency Conversion is a system where the Visa or MasterCard holder in a foreign country can shop on an American based web site that displays prices in their own local currency. The web site can offer multiple choices as to which country the shopper is based in and the shopper can be immediately familiar with the pricing of goods and services.
Exchange rates are in constant flux. Dynamic Currency Conversion utilizes a Bank Reference Table (BRT) otherwise known as a Card Recognition Table (CRT). This table is updated on a daily basis so that transactions have the most up to date conversion rate for transactions. Your web site holds pricing information in $USD, and based on the selection of the shopper, prices are converted to their native currency. Even if the shopper does not choose the correct currency, at the time the card information is presented, the system automatically recognizes that the card is foreign and applies the appropriate currency and exchange rate.
At the close of the transaction an invoice or receipt can present the total to the customer in their currency, along with the merchants local currency along with the exchange rate that was applied. In today’s global business environment, this level of convenience to the customer insures they are comfortable with the transaction from shopping cart to the door. Your business reaches foreign nations expanding your market while presenting new opportunities, increasing your businesses bottom line.
On the merchant end, all transactions are settled in $USD. Reporting mechanisms can display the consumers pricing and the exchange rate they paid for analysis and cost reduction.
Currency Conversion
- Accept currencies from other nations.
- Convert funds to US Dollars.
- Set prices in local currency to avoid confusion or calculation.
- Works with e-commerce as well as Mail Order / Phone Order.
- Ease the sales process for your customers.
- Increase customer familiarity.
- Immediately convert currency to avoid value gaps.
Posted in Best Practices for Merchants, Electronic Payments Tagged with: Bank Reference Table, Card Recognition Table, consumer, conversion rate, currency, customer, Dynamic Currency Conversion, e-commerce, electronic payments, exchange rate, invoice, MasterCard, Merchant's, receipt, shopping cart, transactions, visa
August 21st, 2014 by Elma Jane
Accept Electronic Payments in Their Currency, Convert it to Yours. National Transaction helps you and your customers transact with confidence.
DCC provides convenient currency conversion service at the time of purchase benefiting both the credit card holder and merchants. Our solution provides a system where the Visa or MasterCard holder in a foreign country can shop on an American based website that displays prices in their own local currency. Dynamic Currency Conversion utilizes a Bank Reference Table (BRT) otherwise known as a Card Recognition Table (CRT). This table is updated on a daily basis so that transactions have the most up to date conversion rate for transactions. Your web site holds pricing information in $USD, and based on the selection of the shopper, prices are converted to their native currency. At the close of the transaction an invoice or receipt can present the total to the customer in their currency, along with the merchants local currency along with the exchange rate that was applied.Your business reaches foreign nations expanding your market while presenting new opportunities, increasing your businesses bottom line and making international transaction with confidence. We have diverse set of applications to enable various kinds of business models and financial frameworks.
Posted in Best Practices for Merchants Tagged with: Bank Reference, Card Recognition, conversion rate, credit-card, currency, Currency Conversion, customers, DCC, Dynamic Currency, electronic payments, exchange rate, financial, invoice, MasterCard, Merchant's, pricing, rate, receipt, transactions, visa, website
