http://www.valoot.com/consumers.html
http://www.hongkongcard.com/forum/fo...p?id=18750&p=1

I wonder if you bill via Valoot terminal, Valoot simply captures the transaction and then presents a transaction in card currency (using multi-currency conversion) with Valoot as merchant.

This seems to be akin to what Airbnb is doing

I have reservations whether Visa and/or Mastercard will view this as compliant. It's akin to DCC, except Visa and Mastercard are not paid off.

And I don't believe this is good news to cardholders, as there is no basis for Valoot terminal to allow cardholders to opt out if they do not like the so-called "best rate" Valoot presents, unless merchant maintains another non-Valoot terminal with another acqurier. Unless I am seriously mistaken, I rather Visa and Mastercard shut down Valoot and other similar FX-bypassing providers quickly.

Plus since I doubt Valoot has offices in all 210 countries that Visa and Mastercard issues cards in, a lot of people are gonna be hit by Foreign Transaction Fees.