Oct 22, 2013

Dynamic Currency conversion

The process by which a foreign currency transaction is converted into the currency of the card issuer at the point of sale, instead of by the network. This is for the purpose of facilitating transaction authorization, clearing and settlement reporting. The currency of transaction is determined by the acquirer; the currency of the issuer is the preferred currency used by the issuer, and most often, the currency in which the cardholder will be billed.