Dynamic Currency Conversion (DCC)
Nov 5, 2018, 9:08 am
#512
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The November 4th MC rate is 1.145436 USD/EUR, so it means it's over 7% higher!
Nov 5, 2018, 9:53 am
#513
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What irks me off more tho is that Mastercard/Visa turn a blind eye on this. Obviously turnover is better than the minority of tourists who take exception to being stinged.
Nov 5, 2018, 5:46 pm
#514
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Nov 11, 2018, 4:22 pm
#515
Join Date: May 2017
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From EU Regulation 2018/302 (applies from 3 December):
Let's say that a customer uses a card issued in an EU country and denominated in currency ABC, but that the merchant's local currency is XYZ.
Assume that the merchant wishes to offer DCC, allowing the customer to pay in currency ABC instead of XYZ. Is the merchant then bound, by the anti-discrimination clause, to also offer local customers with XYZ-denominated cards a choice between currencies ABC and XYZ, with the same order of preference in on-screen menus? If so, then this regulation might be what finally stops DCC within the EU (at least for EU cardholders) as local customers would be surprised if terminals were to offer payment in dozens of foreign currencies in addition to local currency.
Article 5
Non-discrimination for reasons related to payment
1. A trader shall not, within the range of means of payment accepted by the trader, apply, for reasons related to a customer's nationality, place of residence or place of establishment, the location of the payment account, the place of establishment of the payment service provider or the place of issue of the payment instrument within the Union, different conditions for a payment transaction, where:
(a) the payment transaction is made through an electronic transaction by credit transfer, direct debit or a card-based payment instrument within the same payment brand and category;
Non-discrimination for reasons related to payment
1. A trader shall not, within the range of means of payment accepted by the trader, apply, for reasons related to a customer's nationality, place of residence or place of establishment, the location of the payment account, the place of establishment of the payment service provider or the place of issue of the payment instrument within the Union, different conditions for a payment transaction, where:
(a) the payment transaction is made through an electronic transaction by credit transfer, direct debit or a card-based payment instrument within the same payment brand and category;
Assume that the merchant wishes to offer DCC, allowing the customer to pay in currency ABC instead of XYZ. Is the merchant then bound, by the anti-discrimination clause, to also offer local customers with XYZ-denominated cards a choice between currencies ABC and XYZ, with the same order of preference in on-screen menus? If so, then this regulation might be what finally stops DCC within the EU (at least for EU cardholders) as local customers would be surprised if terminals were to offer payment in dozens of foreign currencies in addition to local currency.
Nov 11, 2018, 4:33 pm
#516
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From EU Regulation 2018/302 (applies from 3 December):Let's say that a customer uses a card issued in an EU country and denominated in currency ABC, but that the merchant's local currency is XYZ.
Assume that the merchant wishes to offer DCC, allowing the customer to pay in currency ABC instead of XYZ. Is the merchant then bound, by the anti-discrimination clause, to also offer local customers with XYZ-denominated cards a choice between currencies ABC and XYZ, with the same order of preference in on-screen menus? If so, then this regulation might be what finally stops DCC within the EU (at least for EU cardholders) as local customers would be surprised if terminals were to offer payment in dozens of foreign currencies in addition to local currency.
Assume that the merchant wishes to offer DCC, allowing the customer to pay in currency ABC instead of XYZ. Is the merchant then bound, by the anti-discrimination clause, to also offer local customers with XYZ-denominated cards a choice between currencies ABC and XYZ, with the same order of preference in on-screen menus? If so, then this regulation might be what finally stops DCC within the EU (at least for EU cardholders) as local customers would be surprised if terminals were to offer payment in dozens of foreign currencies in addition to local currency.
Nov 11, 2018, 5:07 pm
#517
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I don't think the networks are setup to disable DCC selectively. I know that some currencies aren't supported. For instance, if you have a card denominated on Armenian Dram, perhaps it isn't supported. There might be a way to disable DCC based on the issuing country data on the card. You can't blindly exclude certain currencies since there are USD denominated cards from the EU.
Nov 11, 2018, 5:23 pm
#518
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I don't think the networks are setup to disable DCC selectively. I know that some currencies aren't supported. For instance, if you have a card denominated on Armenian Dram, perhaps it isn't supported. There might be a way to disable DCC based on the issuing country data on the card. You can't blindly exclude certain currencies since there are USD denominated cards from the EU.
Nov 11, 2018, 6:37 pm
#519
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I don't think the networks are setup to disable DCC selectively. I know that some currencies aren't supported. For instance, if you have a card denominated on Armenian Dram, perhaps it isn't supported. There might be a way to disable DCC based on the issuing country data on the card. You can't blindly exclude certain currencies since there are USD denominated cards from the EU.
Dec 1, 2018, 9:01 am
#520
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The cable car at Santorini in Greece does DCC. (And doesn't accept Amex.)
On the positive side, at least the fee is clearly stated and isn't nearly as bad as some. The DCC fee of 24c on $6.80 comes to 3.53%.
Having refused to sign, the agent "reversed" the transaction by crediting 6 EUR (not DCC), thus meaning I was charged the DCC fee for nothing. I'll have to dispute it.
On the positive side, at least the fee is clearly stated and isn't nearly as bad as some. The DCC fee of 24c on $6.80 comes to 3.53%.
I HAVE CHOSEN TO PAY IN USD & UNDERSTAND MY CHOICE OF CURRENCY IS FINAL. THE EXCHANGE RATE IS BASED ON EUROBANK WHOLESALERATE AS OF 28/11 PLUS AN INTERNATIONAL CONVERSION FEE OF 0.24 USD. THIS SERVICE IS PROVIDED BY EUROBANK
Dec 1, 2018, 1:58 pm
#521
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Did you have possession of the terminal, or did the attendant process the card for you? Was there any way to do a contactless payment?
Dec 1, 2018, 2:44 pm
#522
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The Visa I used doesn't have contactless (stupid Chase), so I didn't pay attention to whether it was possible. Also, couldn't see if there was anything about that on the terminal, as it was so far away.
Dec 1, 2018, 3:15 pm
#523
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The attendant sits with her window to the customer on her left and the terminal on her right. There is absolutely no way for the customer to reach the terminal, nor to see what is being displayed on it.
The Visa I used doesn't have contactless (stupid Chase), so I didn't pay attention to whether it was possible. Also, couldn't see if there was anything about that on the terminal, as it was so far away.
The Visa I used doesn't have contactless (stupid Chase), so I didn't pay attention to whether it was possible. Also, couldn't see if there was anything about that on the terminal, as it was so far away.
Dec 1, 2018, 3:57 pm
#524
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I have never been to Greece, so I can't say how prevalent contactless is there. I know that the Pays aren't enabled in Greece. I have to wonder if they have PIN bypass since many coming from others countries would have chip-and-PIN cards. In this sense, I prefer countries with widespread contactless use and chip-and-PIN because the terminals are always customer facing. With a customer facing terminal one can at least see the prompts.
Dec 2, 2018, 1:11 am
#525
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It's hard to say. I'm venturing a guess that outside of UK cards - which I believe would all have contactless - pretty much the only critical mass of non euro denominated cards they'd tend to see would be American.