How to accept foreign currencies in South Africa on card payments

Follow

How to accept multi-currency card payments with Peach payments

This article gives some information on how to enable you as a South African merchant, display and allow foreign card holders to be charged in their local currency.


What you need to get started with multi-currency acceptance:

1. Multi-currency ABSA merchant account
2. Platform / Plugin with multi-currency support

How multi-currency card acceptance works:

This is a Dynamic Currency Conversion, DCC - so any foreign currency is converted, processed and settled in ZAR to you as the merchant. 

1. Present the transaction in the foreign currency to the customer e.g. USD.
2. Customer will be charged the foreign currency amount e.g. USD - exact same amount as presented in step 1.
3. The merchant is settled in ZAR
4. The conversion rate is the daily rate from ABSA and this is decided by them - currency conversion rate and amount are available in the transaction result.
5. ABSA will still charge their regular card acquiring fee.

 

To get you up and running as smoothly as possible, send us the following information by clicking on GET STARTED below:

1. What is the use case ? (E.g. accepting payments for my accommodation business, from my tourist guests )

2. currencies required (USD, GBP, EUR, etc)

3. projected volume for next 12 months

 

 

Accept multi-currency today, with Peach payments: GET STARTED

Have more questions? Submit a request

Comments

Powered by Zendesk