Offering payment in a foreign currency
Payment in foreign currency with conversion allows Merchants to present price catalogs in different currencies, but without having to manage their finances in currencies different from the ones specified in their contract.
When the gateway receives the amount in a currency not managed by your MIDs, it makes a conversion to the company’s currency based on the daily exchange rate provided by Visa.
The buyer is informed of the indicative rate at the time of payment, but does not really know the final amount of the transaction.
The capture at the bank does not necessarily occur on the day of the authorization and the rate may therefore vary between the date of authorization and the date of capture.
For this reason, the counter-value displayed at the time of payment is provided as an indication.
Important:
- The authorization request is sent in the currency of the contract to the card issuer.
- The capture is performed exclusively in the currency of the contract.
- The buyer is debited in the contract currency with exchange fees applied by their bank, without managing the exchange rate.
At the end of the payment, the merchant receives a notification containing the following fields:
- vads_amount: the currency amount,
- vads_currency: the currency,
- Vads_effective_amount: the actual amount in the currency of their contract, calculated using the exchange rate in force at the time of the authorization,
- vads_effective_currency: the currency that will be used for the capture,
- vads_change_rate: the exchange rate applied for converting the amount in the currency of the contract to the buyer’s currency.
