Request a callback

International payment through POS Terminal


Question

I'm going to make an international payment through POS Terminal and I would like to know what will be the currency exchange rate used for the payment, the one of the issuing bank, or the one established by the central bank?

Answer

Generally the card brands apply their own currency exchange rates. Usually they don't differ too much from the exchange rate established by the central bank. The card brand that uses the cheapest currency exchange rate is MasterCard, being the cheapest on the market. On the other hand the card brand that applies the highest exchange rate is Amex. In reference to your question, the entity that will decide on the currency exchange rate applied for a particular transaction is the issuing bank of the card and depending on the brand of the card it will be higher or lower.



Make a question or comment

Recent posts

What is a payment portal?

What types of online payment platforms exist?

The best online payment methods

What is Pin Pad and why you need it for your business?

PSD2 regulation: How will it affect E-Commerce?

What international payment methods are the most used on the Internet?

What is a payment gateway? How does it work?

What is a traditional virtual POS for Web sites?

PAYMENT METHODS

Payment gateway website

MOTO payment

Recurring payment

Bank accounts

Pre-approval form