CARD CONVERSION

CARD CONVERSION  

In global ecommerce where transcations done across the globe, it is fundanmental to comply with the necessity of global payment system.

BENEFIT GLOBALLY ACCEPTED CARDS 

Visa and Mastercard guarantee that the cards can be used anywhere in the world, easily and without hassle for the cardholder. Even if the mercahnt do not cater to foreign customers, they can still easily complete a purchase. Their card issuing bank will see that it is a foreign transaction and will handle the conversion matter. 

DRAWBACK OF GLOBBALY ACCEPTED CARDS

Credit card currency conversions do not reveal the cost until the customer go online or receive their statement in the mail. 

Unfortunately, with these type of payment, customer does not given transparency of the exact amount being spent in the at the time of the purchase being made. Where customer wish to be presented with such transparency, they should consider to shop where Dynamic Currency Conversion (DCC) payment is available.

CARDS CONVERSION FEE

Since it is involve with global transaction where the merchant and customer have different local currency. Therefore a currency conversion is ineviatble. When the conversion is done by a credit or debit card payment processor, i.e., Visa, MasterCard, or an ATM network, the fee is usually 1% of the amount of the transaction.