Dynamic Currency Conversion. Generate additional revenue with DCC from Elavon

Transcription

1 Dynamic Currency Conversion Generate additional revenue with DCC from Elavon

2 DCC from Elavon Good for customers. Great for business What is DCC? Dynamic Currency Conversion (DCC) is a service that gives international Mastercard and Visa cardholders the choice to pay in their home currency. Why it s good for business Put simply, every DCC transaction generates a rebate for you, as your business benefits from a share of the currency conversion fee. It earns you additional revenue with minimal effort your Elavon terminal does the work for you by automatically detecting eligible cards. The more DCC transactions you process, the greater the revenue your business can generate. Why it s good for customers DCC improves the customer experience as your customers know the final price in a currency they understand. DCC provides certainty as your customers get today s exchange rate fixed for the transaction. DCC adds value so your customers can keep better track of their spending. DCC gives your customers peace of mind as they benefit from the Elavon Best Rate. Contents What is DCC? Do you know... Can your business benefit from DCC? Step-by-step at point of sale DCC is great for business In summary Contact

3 Contents / What is DCC? / Do you know... / Who can benefit? / Step-by-step / Why DCC? / Summary / Contact Do you know... Why it s good for business? Elavon convert over 60 currencies Elavon s card processing expertise Visitors from all over the world flock to Europe, be it for business, holidays or education. The international tourist sector in the UK is set to grow to 24bn in 2017 an increase of 8.1% on 2016* and in Ireland the estimated tourism revenue is set to reach 5.7bn in 2017**. DCC means increased quality of service for foreign visitors and increased revenue for businesses. The more DCC payments you process, the more revenue your business can generate. Elavon can offer DCC for over 60 currencies, more than any other acquirer in Europe. This enables you to offer a warm welcome to your international customers. Every year, Elavon processes over 3 billion transactions globally, worth more than $300 billion. Elavon offers the greatest opportunity to maximise your DCC rebate as we convert over 98% of card currencies presented. You can be assured that Elavon has the perfect DCC solution for you. We offer the Elavon Best Rate Elavon offers all cardholders the Elavon Best Rate. This service gives customers the opportunity to claim a refund from Elavon should they find a better exchange rate on their statement from the same day as their DCC transaction. What happens when customers decline DCC? If the customers declines using DCC at the point of sale, the issuing bank will convert the transaction later using their exchange rate and apply any fees and commission. The customer will only find out the final amount at a later time. Visitor numbers are increasing Overseas visitors to Britain are forecast to grow from 36.7m in 2016 to 38.1m in 2017, up 4%* and over 9.5m overseas visitors came to Ireland in 2016, an incredible 11% increase on 2015**. With a strong Dollar, visitors have greater purchasing power, so capitalise on this by offering DCC to customers. * visitbritain.org/forecast ** Tourism Ireland.

4 Contents / What is DCC? / Do you know... / Who can benefit? / Step-by-step / Why DCC? / Summary / Contact Can your business benefit from DCC? Businesses offering DCC to their customers will benefit from: A rebate on all transactions Reduced merchant service bills Enhanced customer service Increased revenue from business travellers Track DCC performance with imerchantconnect Receive insightful DCC reports every month Your customer benefits from the Elavon Best Rate Hotel Retail Bar Restaurant

5 Contents / What is DCC? / Do you know... / Who can benefit? / Step-by-step / Why DCC? / Summary / Contact Step-by-step at point of sale Accepting a DCC transaction couldn t be easier. Here s a step-by-step guide for you and your staff: Insert the customer s card into the Elavon card reader. The terminal will detect an international Visa card or Mastercard and let you know whether the transaction can be converted on the Elavon terminal with the guaranteed exchange rate. Offer the customer the choice to pay in their home currency or your local currency. Each DCC receipt shows the amount in the local currency, the final amount in the cardholder s currency and the exchange rate used. This ensures complete transparency. Funds are settled into your local currency and monthly reports show the total DCC rebate earned, making it easy to keep track of the additional revenue. If they wish to go ahead and pay in their home currency, simply press yes on the terminal or card reader when prompted. If DCC is not enabled on your device, contact Elavon now.

6 Contents / What is DCC? / Do you know... / Who can benefit? / Step-by-step / Why DCC? / Summary / Contact Contents / What is DCC / Do you know..? / Who can benefit? / Step-by-step / Why DCC / Summary / Contact DCC is great for business Great for Finance Great for Marketing Great for Customers Reduce your costs by receiving a rebate from Elavon for every DCC transaction processed. The rebate, which is a percentage of the sale price, goes straight back to your business. It is offset against your merchant service charges to lower your costs. Elavon provide you with marketing materials to promote DCC and the Elavon Best Rate. DCC staff training guides are available to inform your staff on how best to offer currency conversion to customers. With DCC, not only do customers know the final price of the transaction in their currency at the point of sale, but they also benefit from knowing that the transaction is covered by the Elavon Best Rate. Great for IT Great for Customer Service Great for Management Information All Elavon card machines are DCC enabled, adhere to the latest security standards and connect to all communication networks, e.g. broadband, PSTN, WiFi and mobile. DCC eligible transactions are automatically detected on all terminal types. Elavon offer a market leading 60+ DCC currencies, so more cardholders can benefit from currency conversion. Simplify the expense process for business travellers by offering the DCC choice. With Elavon s comprehensive online reporting tool, imerchantconnect, you can track your DCC revenue and performance as well as identifying key business insights on imerchantconnect anytime, anywhere. All reports remain in your currency so you can see the real value of currency conversion to your business.

7 Contents / What is DCC? / Do you know... / Who can benefit? / Step-by-step / Why DCC? / Summary / Contact In summary... With current European exchange rates favouring visitors, this represents a great opportunity to welcome international guests. Now is the time to maximise your revenue from DCC. Adopting key DCC practices can result in increased revenue for your business. Here two of our hotel customers give their reasons for choosing Elavon and DCC. Customer peace of mind Mondrian London Mondrian London welcomes many overseas visitors so offering Dynamic Currency Conversion (DCC) means guests can choose to pay in their home currency and know exactly how much they will be charged on their card statement. Westin Hotel, Dublin Elavon provided in-house training to ensure Westin Hotel staff in Dublin are confident in offering DCC to guests, further improving their payment experience. DCC enhances business performance too, as Elavon give a share of the DCC revenue generated back to the hotel. Having a payment system that works for me and my team is key so we can focus on the guest experience. It has to just work and with Elavon it does. Neil Sawers Director of IT, The Mondrian Hotel

8 Contents / What is DCC? / Do you know... / Who can benefit? / Step-by-step / Why DCC? / Summary / Contact Contact If you re interested in how DCC from Elavon can help grow your business, please get in touch with your Elavon representative. elavon.co.uk/dcc elavon.ie/dcc Elavon Financial Services DAC. Registered in Ireland with Companies Registration Office (Reg. No ). Registered Office: Block 8 Cherrywood Business Park, Loughlinstown, Dublin, Ireland. Registered in England and Wales under the number BR The liability of the member is limited. Elavon Financial Services DAC, trading as Elavon Merchant Services, is regulated by the Central Bank of Ireland. United Kingdom branch is authorised by Central Bank of Ireland and the Prudential Regulation Authority and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our authorisation and regulation by the Prudential Regulation Authority, and regulation by the Financial Conduct Authority are available from us on request. Y2049v20217