New Magento extension: Dynamic Currency Conversion
Our line of payment extensions now features another useful module - Dynamic Currency Conversion. It is a powerful enhancement to your Global Payments gateway giving the customers additional options during the purchase.
With DCC, customers can choose whether they wish to pay in your store’s currency or in the currency of their credit card. The conversion occurs right at the time of payment at the exchange rate existing at that moment.
The new DCC module is to be installed together with the Global Payments extension. It is enabled and configured as part of the Global Payments configuration.
When you install and set up the Dynamic Currency Conversion module, the DCC option appears on the checkout page. You as a merchant can choose the text that accompanies the DCC option to prompt the customer to use either their credit card currency or your store currency.
The payment gateways detect your credit card currency automatically and immediately calculates the corresponding amount using the dynamic interbank exchange rate. The amount and the applied rate are shown on the checkout page with the possibility to choose either of the two options.
The web store admins also see whether a different currency was used. The Order and Account Information showing the summary of each order, displays which currency was used and which exchange rate was applied.
With the Dynamic Currency Conversion module, you are giving your customers flexibility in choosing the payment currency depending on their preferences. Such flexibility creates great user experiences and inspires customer loyalty.
If you have any questions on installing and configuring the Dynamic Currency Conversion extension, do not hesitate to contact our support engineers who will be happy to help you.