Guys, remember we talked about a ICBC credit card that has 10 currencies?

Got one and played with it in Japan.

It is really helpful that when you want to actually charge something using the local currency and let the transaction post to your account in local currency, this is the one. The benefits might be that you have cash of various currencies so you can pay the credit card using various currencies instead of letting the bank convert everything into one currency, or you've been playing the FX game and are good at preparing foreign currency in advance and catch a good rate.

However, at InterContinental Tokyo Bay, the POS did recognized that my card's primary currency is CNY. It gave me the prompt of asking for a pick between JPY and CNY.

OK, now I'm guessing the card is just like a ordinary VISA card with CNY being its currency, to some extent. However, the card is different that other currencies can post natively through VISA's system, as I'm 100% sure that it is NOT like VISA convert JPY to CNY and then ICBC convert it back to JPY and post to your account. It is actually JPY all the way through VISA's system into ICBC's system. If this is a regular credit card, VISA would definitely have to convert JPY into whatever the card's only currency is using VISA's rate, and there is nothing the bank can do to prevent this OTHER THAN making the card capable of charging JPY directly in the VISA's system.

Therefore, I'm guessing it is prone to DCC if the POS really wants to do some dirty stuff. I'm still curious to see whether Tax Refund can be process natively without any conversion on VISA's part.

My understanding of the process without DCC:
POS) Do you take JPY?
VISA) YES
POS) Charge 10000 JPY to card XXX

With DCC:
POS) What's your primary currency?
VISA) CNY
POS) (DCC stuff...)