PayFX
PayFX is a currency converter option built into PayGate payment gateway's product PayWeb and provides merchants with an easy and transparent way of handling currency conversion during credit card processing on the internet.
Benefits
- Merchants can advertise products and services in the currency of their choice
- Conversion to local currency is clear and transparent for cardholders
- Settlement in local currency conforms to acquiring bank requirements
- Credit card payment happens seamlessly and automatically without merchant involvement
- PayFX keeps the card holder on your site - no external currency conversion
Description
When PayWeb receives a transaction it determines whether currency conversion is required.
If so then it does the following...
If so then it does the following...
- Display relevant currency conversion information on the PayWeb page
- Converts the transaction currency to local currency at the current exchange rate
- Processes the credit card transaction in local currency
- Highlights the fact that currency conversion was required (and the relevant conversion rates used) on the 'receipt e-mail' sent to the card holder
- Provides a link to a clear explanation of why currency conversion is required, and highlights the fact that due to the conversion, the card holder is likely to be billed a slightly different amount to the advertised price
Who should use PayFX?
Credit card merchants with a merchant facility who wish to advertise products and/or services on their web site in a currency which differs from their local settlement currency.
Sign Up
Please fill in the PayGate payment gateway Get Connected form and we will assist you to get a merchant facility at a suitable acquiring Bank.
