When making online credit card payments, customers often prefer to transact in their home currency. However, merchants selling products and services on their websites are often limited by their country’s banking regulations and have to accept credit card payments in their country’s currency into their internet merchant account at their bank. We have developed PayFX – a real-time currency conversion service – in order to allow our merchants to price items on their websites in any of the supported currencies. PayFX converts transactions received in these currencies to the merchant’s home currency (e.g Rand for merchants in South Africa) so that transactions can be processed to the merchant’s internet merchant account. This service is ideal for merchants looking to accept credit card payments from international credit cards.
PayFX is compatible with our PayWeb online credit card processing service and does not require additional development to integrate. When online credit card payments are received, PayFX will convert them to the home currency of the merchant using an up-to-date exchange rate. This exchange rate as well as the converted amount is visible to the client so that they are aware that conversion is taking place. The client will then enter their credit card details and the transaction is processed via the PayGate online payment gateway to the merchant’s internet merchant account in the currency supported by the account.
The PayFX service offers merchants in the tourism and travel industry including B&B and hotel operators the ability to receive credit card payments from their foreign clients and quote their clients in their own currencies. PayFx enables e-commerce merchants to accept payments from international credit cards and price items on their websites in various currencies. These credit card payments are then accepted into their internet merchant account in their own currency. PayFX is compatible with the PayWeb online credit card processing service as well as our PayBill service. The PayFX service can be quickly activated on request and will not require any additional development for merchants using PayWeb or PayBill.
