It is yet again another way of acting local: offer local payment methods, display the payment pages in the language of the shopper and… have them pay in their own currency.
Acting local pays off as it makes your customers feel more at ease when purchasing online.
That’s exactly why Ogone offers you specific currency services:
Multi currency processing
Do you want to offer your customers the possibility to pay in their own currency but don’t have the desire to manage different bank accounts in various currencies?
Our multi-currency processing solves your problems!
When you send us the transaction parameters, the authorisation will go through as normal but Ogone will apply that day’s rate to the foreign amount and send the base amount to your acquiring partner.
Dynamic Currency Conversion (DCC)
DCC offers your cardholders the choice to pay either in their home currency - the one their credit card is issued in - or in your currency.
By converting the amount to be paid in the customer’s currency, DCC allows you to price your products in your main currency while giving your customers the choice at point of payment to directly pay in their home currency for Visa and MasterCard.
How does DCC work?
There are two options:
- If your customer selects his home currency, the transaction will be authorised in his currency. That makes his shopping experience more certain and convenient since the amount shown is final for him. For you the transaction will be settled by the acquirer in your base currency, in the original amount you defined.
- If the cardholder selects the original transaction currency, the authorisation and transaction settlement will be performed in your currency.
The advantages for you as a merchant are clear:
- More control and consent prior to authorisation
- Increasing customer satisfaction leading to higher conversion rates
- No foreign currency risk
- Growing customer base by attracting foreign customers
In order to assure a correct conversion of the transaction amount, we have established connections with external companies such as FEXCO and Global Blue.