DCC Product Summary

What is DCC?

DCC is a service that enables international Visa® and MasterCard® cardholders the choice to pay in their home currency rather than the local currency of the country which the customer is visiting.

DCC from Elavon can convert MasterCard and Visa credit and debit transactions in over 60 currencies.

Overview

DCC is defined as the conversion of the purchase price of goods or services from one currency to another, as agreed by the consumer and customer.

In a typical DCC transaction, the purchase price is converted from the customer’s pricing currency into the cardholder’s billing currency, which becomes the ‘transaction currency’. The Transaction Amount is based on the price of the goods / services in the customer’s pricing currency, converted at an exchange rate (offered by the customer and agreed by the consumer), including other charges including a mark-up for currency conversion. This process is performed before the transaction is presented to Elavon for authorisation with the Card Associations.

The DCC Services is primarily used by customers who cater to a high percentage of international consumers. As a result, DCC is focused on target market sectors such as travel and entertainment, and at tourist destinations.

DCC is supported on DCC-eligible Visa and MasterCard branded Credit and Debit Cards. Elavon supports DCC processing on over 60 currencies. DCC can be supported on both card present and card not present (CNP) transactions. DCC may be offered on Proximity Payments where the transaction amount is above the cardholder verification limit.

DCC is currently prohibited on:

  • Other Card Schemes (outside Visa and MasterCard) processed through Elavon,
  • Transactions that include Cashback,
  • Low value contactless transactions, whereby the transaction amount is less than or equal to the applicable Card Verification Method (CVM) limit or on any Contactless Transaction for which a ceiling limit applies.

Customer Benefits

The following is a list of some of the benefits to customers in using the DCC Service:

  • Rebate: Maximise your revenue from international consumers with DCC from Elavon. You receive a percentage of the sales price back as a rebate.
  • Customer service: Enhance the consumer’s experience with DCC.
  • Lower bills: The DCC rebate offsets customer service fees.
  • Automatic card recognition makes DCC simple for staff to offer.
  • Single statement and single settlement for acquiring and DCC transactions.
  • Reduced disputes and chargebacks.

Consumer/Cardholder Benefits

The following is a list of some of the benefits to consumers in using the DCC Service:

  • The consumer will see the final price in their own currency so they have price certainty as they know exactly what will appear on their statement.
  • The consumer is quoted a price in a currency they understand so they have price familiarity.
  • The consumer can lock in the day’s exchange rate as exchange rates are updated every week day.
  • Peace of mind for consumer as anyone can avail of the Elavon Best Rate Guarantee should they find a better rate on their statement.
  • DCC helps consumer keep track of their spending and card balances by paying in their own currency.
  • Business expenses are easier to track.
  • The consumer does not need to become familiar with foreign currency.