Dynamic Currency Conversion (DCC) allows international customers to choose between their home currency and the local currency when paying with Mastercard, VISA or Diners/Discover.
The card schemes have specific rules around the information that needs to be presented to the customer before they make their choice of whether to accept or decline DCC as well as what information needs to be present on the customer receipt.
These requirements apply to both card present and card not present (eCommerce) transactions.
1. DCC is always a choice and must be offered clearly on the payment terminal/screen.
a. Customers must be shown how to accept or reject DCC, using clear buttons on the terminal, PIN pad or screen for eCommerce transactions
b. A customer may not accept or reject DCC by selecting a ‘green/red’ button as this can be seen as leading the customer to choose
c. Local amount and currency
d. DCC amount and currency
e. Exchange Rate
f. Mark up % must be displayed directly underneath the exchange rate line
g. A clear instruction to “Select Currency”
h. A clear way to accept or decline e.g. press 1 to accept or 2 to decline
i. Text must all be the same size on the screen
2. DCC is always a choice and must be offered clearly on the payment terminal/screen.
a. Customers must be shown how to accept or reject DCC, using clear buttons on the terminal, PIN pad or screen for eCommerce transactions
b. A customer may not accept or reject DCC by selecting a ‘green/red’ button as this can be seen as leading the customer to choose
c. Local amount and currency
d. Rate above ECB for EEA currencies
e. DCC amount and currency followed by the words “Transaction Currency, transaction amount, transaction charged or amount charged"
f. Disclaimer as follows: “I have been offered a choice of currencies and have chosen to accept DCC and pay in <DCC Currency> at today's exchange rate"
g. Provider as follows: “DCC provided by Elavon Merchant Services. Elavon receive Foreign Exchange Transaction Services from U.S. Bank"
