To sell merchant services effectively, you need two components working together: a strong sales approach and a product that merchants want. In a world that keeps shrinking, the latter includes being able to process payments from customers in multiple currencies. This is where Nuvei's Dynamic Currency Conversion (DCC) services come in. We will help you make life easier for your merchants with a tool their customers want, boosting your sales and your profits in the meantime.
What Is Dynamic Currency Conversion?
DCC uses data available to convert prices instantly from the merchant's local currency price to the currency of the country of origin for the card with which a customer is paying. To do this, it applies the current interbank rate and current foreign currency exchange rate to the transaction and displays both options to a customer. This allows the end customer transparent pricing, with a choice to pay in their local currency or the currency in which the merchant sets prices.
Add Value for Your Clients
DCC gives you a new, attractive tool to offer new payment processing clients. If you have current clients, Nuvei can add in DCC as an option with the current contract. This offers those clients an opportunity to serve customers who prefer dealing in their currency, and to avoid the problem of chargebacks for customers who don't understand the pricing when it does not reflect their preferred currency values. Your merchant accounts therefore gain the ability to expand growth while also protecting you and your merchants from losses that foreign currency payments sometimes bring.
Boost Profits from Each Merchant Sale
Besides helping your merchants, Nuvei's DCC product helps your bottom line as a merchant services provider. When end customers choose to pay in their currency, they incur the additional foreign currency fee that comes with it. You collect a percentage of that fee every time a merchant charges it. For as long as that merchant works with you, its success becomes yours through the additional revenue stream DCC capabilities create. Through both each individual fee and the ability for your merchant accounts to build sales volume, the tool will serve both them and you well.
As with every product and program we offer, Nuvei provides the sales professionals with which we work full training and education to support efforts to include DCC in your offerings. Trust Nuvei to give you not only the tools you need but the power of our organization to help you build and improve what you do. Contact a representative today to learn more about what our DCC capabilities can do for you and your merchant accounts.