Just noted Visa has issued new Visa International Operating Regulations on 15 April 2012.

The Dynamic Currency Conversion receipt requirements appears to be identical to the previous 2011 manual. A lot of transitional regulations that have been spent are now removed from the VIOR, so it's a lot easier to read.

http://usa.visa.com/download/merchan...n.pdf#page=614

Still reiterates the requirement to mark an explicit "accept" box "on the written agreement" - so some term hidden in verbage as para 10 Avis Europe agreement/para 22C Avis US agreement is still not compliant.

Also noted (page 579 of the VIOR):

"An Acquirer that participates in Dynamic Currency Conversion must pay an annual program fee, as specified in the applicable regional fee guide. This fee will not be pro-rated."

So Visa is incentivised to push out DCC as much as it can - and perhaps to turn a blind eye when acquirers abuse it.