In December 2005, Standard Chartered Bank of Hong Kong partnered with Planet Payment use SPECTRA S9090 POS Terminal launched the Dynamic Currency Conversion (DCC) application to support multi-currency settlement.
DCC has been widely used in USA and some European countries. In Asia, only Singapore and Thailand and Hong Kong have DCC application. With SPECTRA S9090 POS Terminals having DCC application, merchant’s foreign customers can select to settle their Visa or MasterCard payment with their home currency or local currency. The customers can know immediately the exchange rate and the amount to be appeared on their monthly credit card statement. This application is very welcomed by customers as there is no extra charge.
Apart from providing an add-value application enhancing merchant’s customers-oriented image, they could usually gain some incentives from banks. Hence, more and more merchants are installing this application, including hotels, duty free shops and especially those popular travelers hot spot.
Following Standard Chartered Bank of Hong Kong, other banks are planning to launch their DCC on SPECTRA S9090 POS Terminals. Banks choose SPECTRA S9090 POS Terminal is mostly due to its wide merchant coverage and thus avoiding any inconvenience caused due to switching of terminal models.