What is FEXCO Multi-Currency Pricing?
FEXCO Multi-Currency Pricing (MCP) allows merchants to price goods and services in a number of foreign currencies whilst still receiving settlement in their chosen currency (ies). This allows the consumer to better understand the price of goods and gives them the choice of which currency to pay in. Typical applications for MCP are found across eCommerce environments with more recent developments in Cardholder Present environments through the use of interactive screens.
Multi-Currency Pricing enables merchants the option to offer its products and services in multiple currencies whilst being guaranteed settlement in their chosen base currency. The merchant is not exposed to any foreign exchange risks.
How does MCP work?
This is a sample MCP transaction flow where Payment Gateway/PSP integrates to FEXCO for rates provision. FEXCO also integrate to Online Booking Engines, acquirers and direct to merchants’ servers for rates provision.
eCustomer accesses website and selects preferred currency from drop-down list.
Payment Gateway/PSP collects rates from FEXCO once or multiple times a day. Alternatively, Payment Gateway/PSP can request rates per browsing session.
Website updated to display all prices in currency selected by cardholder.
Customer selects goods/services in preferred currency and submits payment in MCP currency.
Payment Gateway/ PSP submits MCP transaction to acquirer for authorisation.
Multi-currency authorisation for MCP transaction.
MCP transaction completed and customer receives invoice/receipt in MCP currency.
Sample Treasury Process
Euro base merchant completes a MCP transaction for goods priced in USD.
- Visa/MasterCard Card Schemes settle EUR acquirer MCP transaction in USD.
- FEXCO Receives USD and returns to the Acquirer the guaranteed original pricing amount in EUR, plus guaranteed MCP commission.
- Acquirer settles Merchant original EUR Pricing Amount (less Merchant Service Fee (MSF)).
Merchant Vertical Markets
Our MCP solution is available across the following verticals:
MCP Benefits for Merchants and Cardholders
New Revenue Stream
Generate MCP revenue from existing international card transactions.
Grow International Customer Base
Give international customers the convenience of shopping in a currency that they are familiar with.
Convert International Browsers into international Shoppers
Customers’ confidence and comfort in the value of goods and services on offer increases when they can shop in their home currency.
VIP Customers can experience MCP on roaming or mobile POS devices during in-room check-in or personal shopping in high-end retailer’s.
Captitalise on the total opportunity by offering MCP on more currencies. FEXCO distributes rates for nearly 1,000 currency pairs.
Choice & Comfort
Cardholders benefit from knowing exactly how much they are spending in their preferred currency.
Cardholders enjoy a competitive foreign exchange rate.
Experience instant conversion to a familiar currency.