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Requirements

10 Dec 2018

Multi-Currency Pricing

PFX enables your merchants to reach a wider customer base by accepting payments online in over 150 currencies without any foreign exchange rate risk. PFX gives merchants the ability to provide the local feel of a global merchant's web site, regardless of the customer's location or the shipping location of the product.

With PFX the merchant selects the currencies he wants to accept and determines the price he wants to sell his items for in his local currency. When a customer selects the currency they want prices to be displayed in, PFX converts the sale price into that currency.

The difference between PFX and fxCHOICE is that with PFX the currency selection is done upfront before payment. That is, the customer selects the country they are from or the currency they want prices displayed in. When he pays for his purchase he is charged in the selected currency. Provided that this is the same currency that his credit card statement is issued in, then the amount he sees at the check out is the same amount that will appear on his credit card statement.

The merchant receives settlement in his local currency. PFX removes the foreign exchange rate risk associated with selling in multiple currencies by converting the sale price based on up-to-date exchange rates which are guaranteed from the time of purchase to the time of settlement.

Cardholders appreciate the certainty of knowing exactly how much a purchase will cost them at the time of sale while merchants benefit from a wider reaching customer base.

Recurring revenue is derived from this service through ongoing foreign exchange profits.

PFX Features and Benefits

Feature

Benefit

More currencies
Ability to accept payments in over 150 currencies

True global reach for acquirers and their merchants.

Rates guaranteed from time of purchase to time of settlement

  • No foreign exchange rate risk.
  • Merchant always receives the same amount in their local currency for each item sold.

Local currency settlement

Merchants have clarity over sales figures as they receive settlement in their own currency.