Dynamic Currency Conversion

ZEN offers a Dynamic Currency Conversion service, which contributes to quick and efficient transaction processing. This service eliminates the risk associated with currency exchange rate fluctuations and allows for payments to be accepted in a chosen, specified currency. For customers, this means the ability to make payments in their own currencies and check prices in their preferred units during the purchasing process.

The benefits of Dynamic Currency Conversion (DCC) are:

• Speed and efficiency of transaction processing: DCC service helps in quickly and efficiently processing transactions, which is beneficial for both merchants and customers.
• Elimination of currency exchange rate risk: DCC eliminates the risk associated with currency exchange rate fluctuations, allowing payments to be made in the chosen currency without concerns about unfavorable exchange rate changes.
• Convenience for customers: For customers, DCC means the ability to make payments in their own currencies and check prices in their preferred currency during purchases, enhancing comfort and transparency in the buying process.
• Automatic currency exchange rate checking: The DCC system automatically checks current currency exchange rates and presents the price to the customer in their own currency, making it easier to understand the cost of purchases.
• Availability for all merchants: DCC service is a standard option available to all merchants, meaning that anyone can use it, contributing to customer convenience and efficient transaction processing.

For API integration the process of calculating the conversion rates is done through API request, before the transaction is initiated. For more information check our “Authorization” chapter of API Integration https://developer.zen.com/payments/api/powerapi.html#tag/authorization

Example:
You are running your store in Germany and in order to simplify your accounting and avoid risks associated with exchange rate fluctuations, the store is accepting only EUR currency. Since many of your clients come from abroad, mainly USA (USD) and Canada (CAD), you’ve decided that users can checkout in their own currencies.
The value of the basket for your Canadian client equals 100 EUR. During the checkout process you verify the DCC rate with ZEN and present local price at 105 CAD to the user, and initiate the card payment for 105 CAD.
As a merchant you receive 99 EUR as a settlement for this transaction, which is exactly the same amount you receive for a card transaction of the same value processed in EUR currency.