DCC Definition.

Dynamic Currency Conversion: when paying abroad, the terminal or ATM offers to charge in the card’s currency instead of the local currency. The acquirer performs the conversion, often with markups of 3% to 12%, almost always to the cardholder’s detriment. Regulation (EU) 2019/518 requires the markup over the ECB reference rate to be disclosed; the golden rule is still to pay in the local currency.

See also

→ POS terminal→ Acquirer

Where this term appears

GuidePayments in Greece, Cyprus, and MaltaGuidePayments in Hungary, Czechia, and SlovakiaGuidePayments in SingaporeGuideCross-border acquiring around the worldGuideFX and multi-currency paymentsGuideClearing and settlementGuidePayment routing and optimizationGuideReason codesCourseAccepting payments in BrazilCoursePix in depth: integration and operationsCoursePayment methods around the worldCourseAccepting cards in store: POS terminals from A to Z

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