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As more interactions move online or to mobile apps, are you making the best, first impression? Because crucial to the user experience is your payment journey.
Don’t be put off by their weighty names, Dynamic Currency Conversion (DCC) and Multi-Currency Conversion (MCC) make light work of international payments. In a nutshell, DCC works for in-person payments, while MCC makes it easy online and in app.
“Hotel payment flows are changing,” says Dave Wheatcroft, Head of Hospitality for Elavon in Europe.
“For some guests, you process a token at booking, and they pay in full when checking in or checking out – which is an ideal time to offer DCC in person.
“But as business travellers and your most exclusive guests want the freedom to leave without checking out, you need to reconsider when it’s best to address currency conversion… MCC could be the answer,” he adds.
Currency conversion that always puts your guest experience first
How does the following sound to you?
Alex plans to travel to London from Berlin and picks a hotel room online to book. Your website recognises Alex’s IP address is in Germany, so automatically shows prices in Euro. Room prices you’ve pre-set (for each currency). Alex knows up front what the cost will be in a familiar currency. As pricing is clear and familiar, trust in your site and brand rises while the likelihood of dropout at the payment point reduces. The booking continues, and you’re ready to welcome Alex as a guest – perhaps for the first of many visits.
Job done, right? Well, yes. But you can be smarter still with your currency approach.
As cross-border business booms, there’s every chance you no longer work in just one currency. Think of the costs you rack up on exchange rates and fees!
What if you had some suppliers inside and outside the Eurozone. You might pay most in GBP or USD as your functional currency, but if you kept some in Euro – like those you got from Alex - could you pay your Eurozone suppliers without running up avoidable costs?
Elavon can help you manage your whole currency conversion approach in a way that’s simple for your customer, easy for your team and brilliant for your business. To find out more, talk to us.
25 March 2024
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Copyright© | Elavon Financial Services DAC. Registered in Ireland with Companies Registration Office. The liability of the member is limited. United Kingdom branch registered in England and Wales under the number BR022122.
Elavon Financial Services DAC, trading as Elavon Merchant Services, is a credit institution authorised and regulated by the Central Bank of Ireland. Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.
Helping thousands of customers around the world grow their business through payments
Customer service and support
We’re here to help!
Customer service: 0345 850 0195 (menu option 2)
8am to 6pm, Monday to Friday
Elavon technical support: 0345 850 0195 (menu option 1)
24 hours a day, 365 days a year
Opayo product support: 0191 313 0299
24 hours a day, 365 days a year
Copyright© | Elavon Financial Services DAC. Registered in Ireland with Companies Registration Office. The liability of the member is limited. United Kingdom branch registered in England and Wales under the number BR022122.
Elavon Financial Services DAC, trading as Elavon Merchant Services, is a credit institution authorised and regulated by the Central Bank of Ireland. Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.
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