2C2P’s Dynamic Currency Conversion (DCC) system allows merchants and acquiring banks to give customers the option of paying in their cards’ native currency or in the merchant or bank’s local currency.

The dynamic currency conversion takes place when there is a conversion of the purchase price from one currency to another, as agreed by both the cardholder and the merchant, at the time of purchase. this real-time currency conversion benefits both cardholders and merchants/banks. On the one hand, cardholders are able to determine the exact transaction amount that will be charged in their credit cards’ billing currency before conducting the purchase, thus enabling transparent billing to the foreign cardholder. On the other hand, merchants and acquiring banks are able to earn additional revenue from the currency exchange spread.

2C2P offers DCC in both Card Present and Card Not Present forms.

Card Present

The Card Present solution includes a point-of-sale EDC terminal at the physical merchant cashier or check-out counter. The cardholder’s credit card details are read by the EDC terminal, which identifies the home currency of the credit card and converts the local currency amount into the cardholder’s home currency. The cashier offer the cardholder the option to pay in his/her home currency. The cardholder signs a receipt that shows the local currency amount, rate of exchange and the home currency amount of the final bill. 2C2P guarantees that this exact home currency amount will be debited to the cardholder account, and the exact local currency amount will be credited to the merchant’s account.

2C2P also provides DCC (Card Present) solution in ATM networks.

Card Not Present

• The Card Not Present solution enables dynamic currency conversion for online payments.
• V-EDC — Virtual EDC gives cardholders the option to pay in their cards’ native currency in Card Not Present situations. This solution is suitable for kiosks, call centers or merchants accepting email or telephone orders.
• E-Commerce — Provides your e-commerce website instant and seamless dynamic currency conversion capability.

2C2P’s DCC system currently supports the following currencies: USD, EUR, GBP, CHF, AUD, CAD, JPY, SGD HKD, MYR, SEK, DKK, NOK, NZD, AED and RUB.