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Dynamic Currency Conversion Allows U.S. merchants to offer international Visa and MasterCard
cardholders the option to pay in their home currency Conversion is done at a competitive exchange rate at the POS Receipt reflects:
– Sale amount in USD– Conversion rate– Conversion mark up rate and percent– Home currency equivalent
Cardholder’s credit card is billed in exactly the amount that appears on the receipt
Without DCC when a transaction is processed the issuing bank receives the profit from the currency exchange
With DCC the merchant shares in the profit from the currency exchange
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Currency Conversion ComparisonIS
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CC
ACTUAL POS RECEIPT STATEMENT FEE $$$
88.66(IncludesConversion fee)
Issuer
Shares % with Merchant/Partners
1 US Dollar = 0.854199 Euro
1 US Dollar = 0.854199 Euro
88.66
Keeps Conversion Fee
Includes Conversion
Fee
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Convertible Currencies
Five Currencies covering over 20 countries– Australian dollar (AUD) – British pound (GBP)– Canadian dollar (CAD)– Euro (EUR)– Japanese yen (JPY)
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Elavon’s DCC Offering
Annual Registration Fee– DCC Annual Registration Fee Buy Rate– No monthly fees– No transaction fees
Merchant Rebate Option– Rebate for every qualified foreign transaction– Rebate reflected on monthly statement
Only end-to-end closed-loop network offering in the U.S.– From direct treasury exchange rates to front-end authorization and data
capture to back-end reconcilement, settlement, and funding
Process is seamless to merchants - one statement, one point of contact
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DCC Value Proposition
Consumer– Instant conversion to prices they can easily understand– Very competitive exchange rates– No shocks when credit card bill is received
• know exactly how much was spent in home currency Merchants
– New source of revenue• Elavon will rebate a percentage of the foreign exchange
conversion back to the merchant– Fewer Chargebacks – since the Cardholder is not
disputing an amount that they don’t recognize
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Qualifying Environments
Supported Retail Restaurant Mail / Telephone Order e-Commerce
Not Supported Cash Advance Direct Marketing MCC’s
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Prohibited MCC’s for DCC
5960 Direct Marketing - Insurance Services 5962 Direct Marketing - Travel 5963 Door-To-Door Sales 5964 Direct Marketing - Catalog Merchant 5965 Direct Marketing - Combination Catalog and
Retail Merchant 5966 Direct Marketing - Outbound Tele 5967 Direct Marketing - Inbound Tele 5968 Direct Marketing - Subscription 5969 Direct Marketing - Other
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DCC Requirements
Merchant must Auth and Settle same day – no delayed delivery Merchant must disclose the following either via receipt, online or
verbally The USD amount Conversion rate Home currency amount Mark-up amount and conversion fee percentage
“OPT IN” approval required – Cardholder must agree to conversion Customer must check “I accept” box
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“I accept” Check box
Amount in Cardholder’s Currency
Amount in Merchant’s Currency
Mark-up or Conversion Fee
Exchange Rate
Customer check the “I accept” box and sign the receipt, indicating that they want the transaction converted to their home currency.
DCC Transaction Receipt
Signature
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DCC Point-of-Sale Products
VeriFone – Omni & Vx– Omni 3730LE & 3750– Vx510LE, 510, 570 & 610
Hypercom - Optimum– T4100, T4205, T4210, T4220, T4230 & M4230
VirtualMerchant– Virtual terminal – Buy Button for e-commerce
InternetSecure– Buy Button for e-commerce
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Top Opportunity Merchant Types
Membership Organizations Educational Institutions (colleges,
universities, trade schools) Lodging Travel and Tour operators Retail
– Automotive Parts & Accessories– Retail Specialty Stores not elsewhere
classified– Sporting Goods Stores– Jewelry Stores– Electronic Stores– Furniture Stores
Medical & Health Services
The Greatest Opportunity
Represent over 90% of international tourists
San Francisco
New York
Boston
Las Vegas
Miami
Los Angeles Honolulu Washington DC Orlando
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“Think Like a Tourist” Factor
Theme parks Hotels Tour operators Museums Art Galleries Ski resorts Golf resorts Restaurants
New Merchant Enrollment – Paper Application
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Enter Rebate amount to Merchant if applicable
Enter Annual Fee amount to Merchant if applicable
New Merchant Enrollment – MSP FAST - Step 1
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On the Programming Instructions Tab, check the DCC Setup and click to open the dialogue box
New Merchant Enrollment – MSP FAST - Step 2
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On the “Schedule Of Fees” tab open the “FEE” section
Select the DCC Annual Registration Fee option on the dropdown menu, input all required fields and save the fee