Dynamic Currency Conversion (DCC)
Dynamic Currency Conversion (DCC) allows international cardholders to pay in their home currency when making transactions abroad. Merchants offer this service at the point of sale, applying their own exchange rate, which can tend to be higher than that offered by other market participants.
Applications
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
Advantages
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
Challenges
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
