Pure Commerce Supports Visa's End to Dynamic Currency
Conversion Moratorium
New Merchants Can Now Offer DCC
Services on Visa Transactions After Six Month Moratorium Has
Lifted
SYDNEY, Oct. 21 /PRNewswire-Asia/ -- Pure Commerce, an
international payment solutions provider, today announced its
support for the end to Visa's moratorium on dynamic currency
conversion (DCC), which was introduced in April 2010 to limit the
addition of new DCC participants into the market.
As a result, DCC can now be offered on Visa transactions at all
merchant outlets in the US, Asia Pacific, and Canada, in accordance
with Visa's Global DCC Compliance Programme requirements. Visa has
also lifted its long-standing DCC prohibition on Visa transactions
in Central and Eastern Europe, Middle East and Africa (CEMEA). It
will also be removing the DCC prohibition on Visa transactions in
Latin America and Caribbean (LAC) in April 2011.
"This is a very positive outcome for our acquirer customers and
merchants, helping them to further capitalise on foreign spending
by attracting new customers, while at the same time earning greater
revenue derived from foreign transactions," said Daniel Lavecky,
CEO of Pure Commerce. "This significantly reduces their costs
associated with accepting credit cards from international
visitors."
Pure Commerce's fxCHOICE DCC service simplifies purchasing by
allowing foreign cardholders the option of paying in their local
currency at a competitive exchange rate when making a purchase
using Visa or Mastercard payment cards. Every time an international
charge is converted, Pure Commerce's acquirer customers and
merchants earn revenue through foreign exchange commissions on up
to 135 currencies. As a result of Visa's announcement, Pure
Commerce's customers can now take further advantage of a higher
conversion rate and increased profitability.
"We know that global travellers want to stretch their dollar
further and are always cognisant of exchange rates, especially
given the volatility of the market in recent times," said Mr
Lavecky. "Visa's announcement not only benefits acquirers and
merchants, but it gives Visa cardholders greater choice and
convenience when making foreign purchases."
About Pure Commerce
Pure Commerce provides on-demand financial and payment solutions
to banks, acquirers and multinational corporates. The company's
payment solutions, which include dynamic currency conversion and
multi-currency pricing, provide clients with innovative ways to
extend, deepen and retain relationships with their customers. Pure
Commerce has offices in Sydney, Singapore, Seoul, Zurich and
London. For more information visit http://www.pure-commerce.com
For further information or interview, please contact:
Emma Keen
Infinite Loop
Tel: +61-402-112-189
Email: [email protected]
SOURCE Pure Commerce
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