Retail-BCG confirms VISA will allow DCC on VISA International Transactions
We are very pleased to announce that yesterday VISA announced they will be updating their rules and will be allowing DCC (Dynamic Currency Conversion) on VISA International Transactions effective 13th April, 2019.
As you know Mastercard already allow DCC on Mastercard Transactions and so this will be an additional income stream for ATM Operators.
The scheme announcement stated:
Dynamic Currency Conversion at ATMs
Effective Central Processing Date (CPD) 13 April 2019, the Visa Rules will be modified to permit acquirers / ATM operators the option to perform Dynamic Currency Conversion (DCC) on international ATM transactions globally.
DCC is an optional service offered by a merchant or an acquirer / ATM operator that enables a cardholder—when traveling abroad—to choose if the transaction should be conducted in the local currency or their home currency. If a cardholder accepts a DCC transaction at the ATM, the acquirer / ATM operator may assess a conversion-related commission to convert the transaction amount in the cardholder’s home currency and dispense in local currency. Visa currently allows DCC on POS transactions globally and on intraregional ATM transactions in the Europe region.
Changes will be made to the DCC program rules for ATM transactions to help ensure a consistently positive cardholder experience at ATMs, including adequate disclosures and choice. The related rules, additional details (including how to certify ATM solutions) and associated pricing for the expansion of the DCC program to acquirers / ATM operators globally will be available in separate Visa Business News articles.
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