Understanding Dynamic Currency ConversionDebunking the misunderstanding, hype, misinformation, opinion, and mystery.

DCC allows credit card holders to pay for goods and services in their home currency while traveling abroad.

What is Dynamic Currency Conversion?

Example:An American cardholder traveling in Africa can pay for a hotel in US dollars rather than in the local currency. There are at least 53 different types of currencies throughout Africa.

DCC: How it Works – Part #1

1. The cardholder presents a card at the point of sale (POS).

2. The POS device detects that the credit card is foreign.

3. The attendant asks the cardholder if he prefers to pay in his home currency or the local currency.

4. If the cardholder prefers his home currency, the POS device converts the sale price, based on the current exchange rate.

DCC: How it Works – Part #2

5. The cardholder signs a receipt that shows:

• The sale amount in the local currency

• The exchange rate• The final amount charged in his

home currency6. The issuing credit card company may impose additional foreign transactions fees. Every card issuer has different regulations regarding additional foreign transactions fees.

DCC: Benefits to the Merchant

• Better customer service by allowing payment in home currency

• Earn profits, if any, from a portion of the foreign exchange margin typically appropriated by the MasterCard or Visa schemes and the foreign issuing bank

• Reduced chargeback risks

DCC: Benefits to the Cardholder

• Clear understanding at the POS, during the transaction, of the exact amount to be charged in their home currency

• Foreign exchange margins normally applied by Visa, MasterCard and issuing banks will often be waived

• “Best rate” guarantees

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