JCC’s DCC service now supports 47 currencies!
JCC’s Dynamic Currency Conversion (DCC) service is now being updated to support the 47 most popular currencies.
What changes with the new version? The automatic installation of the updated service on JCC’s POS terminals has already commenced and is expected to be completed shortly. After the update, the deposits in your bank account will be split into a single deposit for transactions conducted in Euro and a single deposit for transactions conducted in any of the DCC currencies. Furthermore, a detailed statement of transactions per currency will become available in electronic format in order to better monitor the service offering.
What is DCC? The DCC service enables your international customers to pay the total amount due directly in the currency of their card. Specifically during the transaction your POS terminal identifies the card’s currency and automatically suggests payment through DCC. This means that customers can choose which currency to pay in by pressing a button. The Euro amount, conversion rate and billing currency amount are all shown on the receipt.
What currencies are supported? A complete list of supported currencies can be found under the service’s webpage.
What are your benefits? • 1% rebate on every DCC transaction (in Euro) • Exchange rate updated daily • Exchange rate guarantee for the cardholder • 47 leading currencies available for DCC • No additional effort required – same payment process applies
What are the benefits for your international customers? • Exchange rate guarantee – builds confidence in DCC • Cardholder can pay in the card’s billing currency • Transparency – your customers immediately see on the POS terminal the amount they will actually pay in their card’s billing currency avoiding any hidden fees
*Important: The most critical concept in offering DCC is that the customer must be offered the choice of currency to pay and the customer must be able to actively choose the currency. This means that DCC cannot be offered as a default (including the use of any language or procedure that may cause the customer to choose DCC by default) nor as an “opt-out” option.