Dynamic Currency Conversion definition

Dynamic Currency Conversion a process whereby a card transaction amount is converted to a difference currency at POS. When paying with a card issued by a foreign bank, the Client can choose a foreign currency from the POS Terminal currency menu, pay the equivalent amount in a foreign currency and get a sales slip after the transaction has been completed successfully. A DCC transaction slip shows the exchange rate and the transaction price in base (local) as well as transaction (preferred) currency. DCC will be carried out in line with the provisions of the Agreement on Bank Transactions published on the Bank website ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇.▇▇/web/ka.

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Dynamic Currency Conversion. (also “DCC”) mean the dynamic currency conversion feature that enables an Eligible Cardholder to undertake a Transaction in the currency of that Cardholder’s Card rather than the Local Currency;

Dynamic Currency Conversion. A conversion of currency in which goods or services are normally priced into a different currency, as agreed upon by the Cardholder and Merchant. “Small Ticket Payment Service” ‐ A Visa service that permits certain Merchants (e.g., certain local commuter passenger transportation, taxicabs and limousines, bus lines, toll and bridge fees, restaurants, fast food restaurants, news dealers, newsstands, laundries—family, commercial, dry cleaners, quick copy, reproduction, and blueprinting services, parking lots and garages, car washes, motion picture theaters and video tape rental stores) to process Card Transactions using special procedures as outlined in the Visa Operating Rules.

Examples of Dynamic Currency Conversion in a sentence

A Merchant that offers Dynamic Currency Conversion services must comply with all applicable Operating Rules, including without limitation, those set forth or referred to in the Visa Core Rules and Visa Product and Service Rules regarding “Dynamic Currency Conversion.” Merchant must not misrepresent, either explicitly or implicitly, that its Dynamic Currency Conversion service is a Visa service.
A qualified merchant (refer to Visa Core Rules and Visa Product and Service Rules, “CPS/Small Ticket—U.S. Region”) that participates in this service must comply with all applicable Operating Rules, including without limitation, those set forth or referred to in the Visa Core Rules and Visa Product and Service Rules regarding “CPS/Small Ticket—U.S. Region.” Dynamic Currency Conversion.
Planet Payment, through its Merchant Accounting System, will reconcile all Foreign Transactions and perform all Program revenue calculations and calculate and track any Dynamic Currency Conversion ▇▇▇▇-up and DCC Transaction currency exchange gain or loss.
Using Dynamic Currency Conversion, the Merchant prices its goods and services in its local currency (e.g. AED) and after a Cardholder has made the decision to purchase and presents his Card for payment, the systems in use under the Program determine if the Card is eligible for DCC.
The Program comprises Dynamic Currency Conversion also known as Pay in Your Currency.
Merchant must not misrepresent, either explicitly or implicitly, that its Dynamic Currency Conversion service is a Visa service.
Dynamic Currency Conversion In some countries and for some credit card types, Rental Choice offers a dynamic currency conversion option to be selected at checkout time only.
Merchant is prohibited from (i) using any customer service procedure that results in a Cardholder choosing a Dynamic Currency Conversion Transaction by default, or (ii) converting a transaction amount in a local currency into an amount in a Cardholder’s billing currency, after the transaction has been completed but not yet entered into Interchange.
The written agreement must document: (a) the specific currency in which the conversion will take place, (b) that the Cardholder has been offered a choice of currencies, including the Merchant’s local currency, (c) that the Cardholder understands that a Dynamic Currency Conversion Transaction will take place, (d) that the currency choice is final, and (e) that the currency conversion rate will be determined at a later time without further Cardholder consultation.
Before initiating a Dynamic Currency Conversion Transaction in a CNP Transaction, Merchant must disclose the following information to the Cardholder: (1) the price of the goods or services in the Merchant’s local currency; (2) the exchange rate, including any commission; (3) the total price in the Transaction Currency; (4) that the Cardholder has a choice of currencies, including the Merchant’s local currency; and (5) that the choice of currency is final.

More Definitions of Dynamic Currency Conversion

Dynamic Currency Conversion means a service to have funds equal to the value of the goods and/or services which a Cardholder wishes to acquire from BlueSnap converted from the currency of the country where BlueSnap is located to the currency of the country where a Card is issued.

Dynamic Currency Conversion means the conversion by the Merchant, at the point of sale after the Cardmember provides any Card data, of the purchase price of goods or services for a Transaction from the applicable Local Currency to the currency of the Card’s country of issuance.

Dynamic Currency Conversion or “DCC” shall mean (i) in the context of sales of goods and services, the conversion at the Point of Sale of the Merchant’s Local Currency into a different billing currency, as agreed upon by the Cardholder and Merchant, in accordance with applicable Card Association Rules; and (ii) in the context of cash withdrawal transactions from an ATM, the conversion, at the ATM, of the currency in which cash is dispensed from the ATM into a different billing currency, as agreed upon by the Cardholder in response to prompts on the ATM screen, in accordance with applicable Card Association Rules.

Dynamic Currency Conversion or “DCC” A service which may be offered by certain overseas merchants to provide you with the option to pay for your foreign currency transactions (including overseas purchases and online purchases) with your Commercial Charge Card in Ringgit Malaysia at the point of sale.

Dynamic Currency Conversion or ”DCC” means any card transaction presented in foreign currency that you choose to pay in AED at point of sale or any online card transaction on websites hosted overseas.

Dynamic Currency Conversion means the conversion of the purchase price of goods or services from the currency in which the purchase price is displayed to another currency as agreed to by the Cardholder and Merchant.