Customer Currency Selection

Customer Currency Selection offers the combined benefits of Dynamic Currency Conversion (DCC) and Multi Currency Pricing (MCP) in one solution.

Continuum Customer Currency Selection (CCS) allows consumers to price the product or service in their preferred payment currency through the use of a simple drop-down menu. If the consumer chooses not to select an alternative currency from the menu during the transaction, or forgets to, they will be offered the choice, upon entering their Visa or Mastercard card details, of paying in the original pricing currency or in the currency of their credit or debit card where different.

Customer Currency Selection is not limited to Visa and Mastercard transactions and can be set up to include alternative payment methods. By offering your customers the ability to switch from the pricing currency to their preferred payment currency through CCS, the ‘path-to-payment’ can see increased browse-to-buy conversion rates of up to 20% and increased average transaction values of c. 8%.

Customer Currency Selection enables the consumer to choose their preferred payment currency and payment type thereby knowing exactly how much they are spending in their chosen currency. As CCS is not dependant on the credit or debit card number it can be offered at the beginning of the purchase process meaning consumers have price certainty from the outset, reducing the risk of them dropping off at the end of the process.

When a consumer chooses not to select Customer Currency Selection and pays in the pricing currency (different to the currency of their card) a fee is charged by the card issuing bank on the foreign transaction (normally 3% to 5 %). This undisclosed foreign transaction fee is not incurred by the customer when Customer Currency Selection is selected.

The consumer knows exactly how much they are spending and what charge to expect on their credit or debit card.

Customer Currency Selection can earn additional revenue for our clients at no additional cost to their consumer. It improves the consumer experience by offering price certainty and eliminating their exposure to exchange rate risk.

How is it Implemented?

At Continuum we pride ourselves on our industry knowledge, our domain knowledge, technical expertise and providing clever but simple solutions to complex challenges. We invest heavily in our people to ensure our working environment is the best that it can be.

Innovation is a key focus and ensures that we continue to lead from the front. For each project we assign a dedicated team of Project and Product Managers, Software Architects and Developers, Quality Assurance Engineers, IT Engineers and Account Managers to ensure your project goes live on time with all the features and functionality that we promise you we will deliver.

Dynamic Currency Conversion and Multi-Currency Pricing implementation can be perceived as being complex as its implementation can impact many departments within an organisation. We are acutely aware of this and that no two projects are ever the same, that is why we start each project with the preparation of a Client Requirements and Solution Document to be signed off by the client. To prepare this document our team needs to understand your business and your requirements. Depending on the complexity of the business and solution this understanding is gained via online and face to face workshops.