With Planet Payment’s Pay in Your Currency™ service (commonly known as Dynamic Currency Conversion, or DCC, in the credit card industry), personalized pricing lets international customers enjoy the confidence and convenience of paying in their own currency when they shop with their Visa® or MasterCard® credit card abroad. Merchants are able to reduce their costs and provide a more personalized service, while continuing to be paid in their local currency. With our system, everybody profits!
Whether its tourists looking to shop with the currency they understand best – their own – or business travelers who want to simplify expense accounting upon returning home, Pay in Your Currency opens up the world for merchants, and offers a powerful incentive for international travelers to shop at participating stores wherever their travels take them. Planet Payment offers personalized pricing across retail, restaurant, hospitality environments, through a multitude of supported technologies.
Start offering personalized pricing to your valued international customers and start taking advantage of its benefits today!
Merchants:
- Attract new, international customers
- Encourage repeat business
- Create a personalized pricing experience
- Offer superior customer service
- Create an Additional Revenue Stream
Cardholders:
- No surprises! Customers see the exact amount of their purchase in their home currency at time-of-sale and on their statement
- Leisure travelers enjoy the certainty of knowing the final cost in the currency they understand best - their own
- Business travelers appreciate the convenience of accurate expense accounting
Offering this personalized pricing service and experiencing the benefits is easy - Eligible MasterCard® or Visa® transactions are automatically identified at the point-of-sale after the card is swiped or keyed. The customer is then presented with the option to pay in their home currency or the merchant’s local currency. And then…
a. The terminal prints the customer’s receipt displaying the transaction total in US Dollars, the foreign exchange rate AND the customer’s home currency.
b. The final amount on the receipt will match the amount on the customer’s credit card billing statement.
With Pay in Your Currency, your customers know exactly how much their purchase will cost them in their home currency, providing certainty and convenience for your international shoppers. Offering this superior customer pricing service translates into higher service, attracts new international customers and drives repeat business!
Our Pay in Your Currency services comes with an added guaranteed savings for your international customers - Click here to learn about FX Assured, Planet Payment’s Best Rate Guarantee
Planet Payment’s Pay in Your Currency service - now at ATMs - offers a powerful incentive for international travelers to use and return to a bank’s ATM for their withdrawals abroad. Banks also have the added benefit of earning additional profit margin on each foreign-card transaction.
With this service, international travelers can withdraw US dollars from their banks ATMs, using their foreign credit card. These travelers enjoy the convenience of knowing, at time of withdrawal, the exact amount debited from their bank account, in the currency they know best - their own.
How it Works
- Eligible international cardholders using their MasterCard or Visa are prompted to pay for their withdrawal in their currency.
- The ATM screen displays the withdrawal total in the local currency, the Pay in Your Currency exchange rate AND the withdrawal amount in the customer’s home currency
- The final amount of the ATM receipt matches the debit amount on the customer’s bank statement
How Pay in Your Currency works with PC-EFT
Offering and experiencing the benefits of Pay in Your Currency, Planet Payment’s dynamic currency conversion service, is easy with PC-EFT. Eligible foreign MasterCard and Visa transactions are identified after the card is swiped or keyed. The merchant simply asks their valued customer - Do you want to pay in your own currency? And then…
- The customer’s receipt displays the transaction total in the merchant’s currency, the foreign exchange rate AND the amount in the customer’s home currency
- The final amount of the receipt matches the amount on the customer’s credit card billing statement
Pay in Your Currency provides certainty and convenience to international customers when they pay in their home currency. For merchants, this superior pricing service already incorporated with the PC-EFT service offers a new revenue stream, helping merchants attract new international shoppers and drive return visits from valued customers.
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Planet Payment offers its services through its acquiring bank partners. Contact us to find out whether your bank is an existing partner, or how it can become one.
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