SparrowOne’s financial specialists conduct a thorough financial analysis based on the merchant’s payment processing history, business metrics and sales patterns to ensure you are accepting and settling funds in the proper currencies. By optimizing how you accept different currencies, we can reduce foreign exchange fees and open markets for your products and services.
A key element for determining the right solution for your business will be based upon two factors in your currency support based upon the bank processor support:
Multi-Currency Support (MCP): currency is selected upfront prior to the payment. The customer selects the country they are from or the currency they want prices displayed in. When he pays for his purchase he is charged in the selected currency.
Dynamic Currency Support (DCC): is a process whereby the amount of the transaction is converted by a merchant to the currency of the payment card’s country of issue at the point of sale.
The other element that is important to understand are the currencies that you want to support and where you want to settle those funds. With support in over 190 countries, SparrowOne will work with you to outline the options that may be available to you based upon your current companies global locations and banking relationships.
Work with our specialists to determine the right solution for your offerings, business model and organization.
SparrowOne in China
The Chinese market provides a significant opportunity for North American merchants. However, the complexity of currency laws, currency export limitations and payment options is highly complex.
SparrowOne is recognized as a leader in the opening of this market opportunity and has a dedicated specialist that can educate you on the options and manage the application and on-boarding process with our partner relationships.