- Must I inform the customer the final sale amount in both currencies?
Yes, you must inform the international cardholder how much their purchase costs in their home currency and in the local currency. This information will clearly be displayed on the technology device screen and also on the receipt.
- How will I know when a card is eligible for DCC?
Your technology device will automatically recognise cards that are eligible for DCC.
- Will Fexco provide staff training?
Yes, Fexco will provide training on a regular basis in order to support DCC performance and ensure the DCC service is offered in a compliant manner.
- Is DCC a good option for my business customers?
DCC makes the expense claim process much simpler as DCC ensures the international cardholder knows how much the purchase costs in their home currency. It also helps when a business person is restricted to adhering to a budget.
- Will I need a separate processing system to support the service?
No. The currency recognition software sits on your existing device. You will not see any processing differences.
- Can I set my own exchange rates and margins?
Fexco source un-margined wholesale interbank exchange rates from Reuters. In agreement with our clients a margin is then applied to the sourced exchange rate to give us a margined DCC transaction exchange rate which is offered to the cardholder.
- Are the exchange rates updated frequently?
The exchange rates are updated at least once per day prior to business opening or they are updated dynamically through Fexco’s Dynamic Host Server (DHS).
- Where are the exchange rates sourced from?
Fexco sources its wholesale interbank exchange rates from Reuters, a globally recognised data/rate provider in the finance market.
- Are my card transactions secure with Fexco?
Fexco is certified as a Service Provider‐Level 1 in compliance with the Payment Card Industry Data Security Standard (PCI DSS).
- What currencies are supported with DCC?
DCC is available on a wide range of currencies. A DCC enabled device automatically detects supported foreign currencies and presents the international cardholder with the choice to pay in the merchant’s currency or the cardholder’s home currency.
- What card types support DCC?
The DCC service is available on VISA and MasterCard (Maestro if applicable) cards only.
- What is Dynamic Currency Conversion (DCC)?
DCC is the user-friendly, point-of-purchase service whereby international Visa & MasterCard card users can choose to pay in their own currency, rather than the domestic currency of where they are making their purchase.
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