What is DCC?
Dynamic Currency conversion service (DCC) at the POS terminals of Nexi Croatia allows for cardholders of Mastercard, Maestro and Visa cards, issued by card issuers from outside of the Republic of Croatia in a non-euro currency, to choose the currency of debiting the transaction expense.
In only 3 steps to activation
1. Buyer chooses to pay with Visa or Mastercard card in a non-euro currency.
2. POS terminal automatically recognizes card currency and offers payment in buyer's home currency. The choice of currency, i.e. payment in euros or in the currency to which the card is linked, is confirmed by simply selecting a button on the POS terminal.
3. Payment is finalized as usually, with converted amount visible on the terminal screen. A transaction receipt (slip) printed out for the client on the POS indicates the amount of the transaction in EUR and in the client’s home currency.
Advantages for cardholders:
- Familiar home experience - customers can pay in the currency they are used to.
- Fully transparent costs- no additional bank fees or international transaction costs.
- Locked-in exchange rate - Exchange rate locked in at the point of purchase.
Benefits for merchants:
- Increased customer satisfaction
- Cost reduction through decreased merchant fee applied to every DCC transaction
- Clear sign merchant products and services are relevant to global customers
How is the DCC exchange rate calculated?
The amount of the exchange rate for a DCC transaction is calculated as the ratio of the buying rate for Privredna banka Zagreb d.d. for the chosen currency, in relation to the latest reference exchange rates of the European Central Bank for the euro, and is displayed as information in percentage points (%) - on the Privredna banka Zagreb d.d. website as part of the DCC exchange rate list for POS transactions.
Valid DCC POS exchange rates on a particular day are available here: PBZ DCC list (PBZ DCC list).
Which currencies are offered?
The service is supported for 13 currencies (AUD, CAD, CZK, DKK, HUF, JPY, NOK, SEK, CHF, GBP, USD, BAM, PLN), with exchange rates being automatically updated on the POS terminal on a daily basis.
Answer on possible questions from your customers.
Why should I choose DCC?
Because with DCC you will be able see the exact amount in your own currency at the time of purchase and this amount will not change anymore. In addition, DCC makes it easy for you to carry out accurate reports on business travel expenses if you are a business traveler.
Does DCC work for all foreign cards?
DCC is enabled for Visa, Maestro and Mastercard cards issued in one of the 13 currencies currently supported by Nexi Croatia, and for the transactions with PIN validation. DCC is activated during a contact transaction (with the card inserted into the POS device) or a contactless transaction after which a PIN entry is expected.
How do I choose to pay in my own currency?
You can easily do this at the POS terminal. When you pay, you will choose the amount in your own currency on the terminal’s display.
Is it more expensive to pay in my own currency?
Don't worry about the exchange rate. If you have paid a higher rate than you can get with your own bank, Nets offers a 150% refund for the difference.
How many customers choose DCC?
According to the data and experience from Nexi Group, approximately 25% of all foreign customers choose to pay in their own currency because it makes it easier for them to see how much they are paying and therefore keep an eye on their spending when on holiday.
Why do you want me to choose my own currency?
We earn a small commission on the exchange fee when a customer chooses to pay in their own currency. There will always be a fee when you exchange money, either here at the point of sale or at your bank. You can see the exchange fee on the terminal's display when you choose to pay in your own currency.