Millions of people visit the UK each year, spending money on lodging, meals, entertainment and other travel-related items. A large percentage of these tourists and business travelers would rather pay for these goods and services in their own currency—if they could.
In the past, international travelers using credit cards in the UK had to wait for their monthly statement to find out how much their transactions cost in their credit card currency. This is inconvenient and often challenging for both business people and consumers who need to keep track of expenses.
Merchants with the Dynamic Currency Conversion (DCC) have the capability provide a value-added service to their international customers. If DCC is selected, both the merchant and customer know precisely the amount of the sale, which means no more waiting or guessing at conversion rates or fees for retail, mail/phone order, and website businesses.
Now you can provide a service to your foreign customers that will benefit both them and your business. The DCC service from KOICOMS Payment Processing and its partners is a payment solution that allows your international customers to pay in their home credit card currency, providing convenience and a sense of confidence.
Dynamic Currency Conversion will result in increased sales from new and returning international customers who are attracted by the convenience of paying in their home currency. DCC will also result in an important new revenue stream for your business in the form of a commission earned on each DCC transaction.
You’ll also get reporting that helps you make great business decisions. In addition to standard activity and DCC reports, you can receive valuable information about the international customers who visit your establishment: where they’re from, how much they spend, how many return. Imagine the programs and promotions you’ll develop armed with these insights.