Visa has announced they will be updating their rules and will be allowing DCC (Dynamic Currency Conversion) on Visa International Transactions effective 13th April, 2019.
Mastercard already allows DCC on Mastercard Transactions and so this will be an additional income stream for ATM Operators.
DCC is an optional service offered by a merchant or an acquirer / ATM operator that enables a cardholder—when traveling abroad—to choose if the transaction should be conducted in the local currency or their home currency. If a cardholder accepts a DCC transaction at the ATM, the acquirer / ATM operator may assess a conversion-related commission to convert the transaction amount in the cardholder’s home currency and dispense in local currency. Visa currently allows DCC on POS transactions globally and on intraregional ATM transactions in the Europe region.
Changes will be made to the DCC program rules for ATM transactions to help ensure a consistently positive cardholder experience at ATMs, including adequate disclosures and choice. The related rules, additional details (including how to certify ATM solutions) and associated pricing for the expansion of the DCC program to acquirers / ATM operators globally will be available in separate Visa Business News articles.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
