Often with hefty transaction fees comes buyer’s remorse, and customers will try to get their money back using their bank’s chargeback system. That will not only incur costs to your business but will also break the trust barrier between yourself and your customers.
One major rule when offering Dynamic Currency Conversion services (DCC) as part of the purchase process is that the customer must have the choice to use it or not and cannot be coerced into using it.
If DCC is used without the customer’s express consent, Visa and Mastercard will give them chargeback rights. But, if you can show that the cardholder was given the option to use DCC and chose it, you can defend the chargeback by presenting the transaction with that evidence.
But how can you make the whole buying process easier for your customers? By using a payment gateway that provides an affordable Dynamic Currency Conversion (DCC) service for both parties.
At Trust Payments, we know how much customers love this option, and we offer it for both online and in-store (POS) solutions. The DCC feature on our POS terminal provides foreign cardholders with the choice to pay in their home currency at the point of sale, and you can take a commission on each transaction.