What is the Dynamic Currency Payment Service (DCC)?

Find out how your foreign customers can pay in their own currency on your POS terminal
Seeing as Spain is one of the countries with the highest number of tourists, it's reasonable to expect that payments in many of our country's businesses are made using cards from foreign banks. When it comes to accepting payments with foreign cards, a very handy solution for both parties is the use of a POS terminal with the DCC service. In this article, we will tell you what the DCC currency payment service is and the advantages it offers to customers and businesses.
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What is the DCC Service?

Dynamic Currency Conversion (DCC) is a payment system that allows customers who make purchases abroad to choose two payment methods: either in their own currency or in the local currency (if different). This way, when the customer inserts their card into the POS terminal, both options appear on the screen so they can choose between them. It should be noted, though, that this service is currently only available for Visa and Mastercard cards and it does not yet accept payments in every possible currency, being limited to the world's main currencies.

Advantages of the DCC service

both clients and businesses. On the one hand, thanks to this new payment method, the customer can see exactly how much money is being charged to their account: when the option to pay in the currency of the card's country of origin is selected, the customer sees the amount of the charge in their own currency so they know exactly how much they are spending.

In Spain, the business will receive the card payment in euros, since the transaction is settled in the local currency even if the customer decides to pay in their own currency. If a refund is made, the fact that the payment was made in a foreign currency won't affect the settlement.

Providing these services to a customer allows the business to improve its image and increase customer satisfaction and retention. It is also a simple system to use that businesses can very easily incorporate into their daily routine.

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BBVA POS terminals with DCC service

At BBVA, we offer two different POS terminals that include the DCC service:

BBVA Physical POS terminal: thanks to this POS terminal, customers can make contactless payments, making the process easier and smoother and offering greater mobility. We should note that this requires a data connection to communicate (ADSL, Wi-Fi, GPRS), and that it allows a high degree of mobility, since you can process payments practically anywhere.

BBVA Virtual POS Terminal: this POS terminal offers great security for both the customer and the business when processing payments online. It also has a display that adapts to different languages and devices (smartphones and tablets) and accepts debit, credit, prepaid and virtual cards. It also features an administration module that allows businesses to carry out several transactions, making for a more convenient and efficient process.

At BBVA, we know it isn't always easy to manage your business efficiently. Considering how many new payment methods are created every year, and how many of these payments are made using foreign cards, having access to a service that offers more possibilities is a great advantage. Which is why we have added the DCC service to our POS terminals. If you would like more information on these products and want to find out how they can help you manage your business, go to bbva.es or visit any of our branches.

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