Note: The FX rates and markups shown in the screenshots are illustrative only and do not represent real or current values.
What is MCC?
Multi-currency conversion allows customers the choice to pay in their home currency or your store currency, based on real-time exchange rates and fees. This feature is especially useful for international customers.
When choosing to pay in their home currency you will not receive funds in that currency. Instead, the payment is converted and settled in the your designated settlement currency, ensuring consistency and simplifying accounting and reconciliation.
As an added benefit, when a customer chooses to pay in their home currency, Kody will provide you with a 1% rebate on the transaction amount. This incentive helps merchants increase conversion rates while earning additional value on international sales.
How can my customer use MCC?
When your customer presents an international Visa or Mastercard, the Kody Terminal will display the total payment amount in both GBP and their home currency.
Note: MCC is only available for Visa and Mastercard customers, thats why we need to request the card scheme to ensure we are offering accurate information
You can present the terminal screen to your customer so that they can then choose their preferred payment currency.
If they choose to pay in their home currency, the total sale amount in both GBP and their home currency will appear on both the merchant and customer receipts.
How can I check that MCC has been used on a payment?
MCC transactions will be clearly marked with an MCC tag in Kody Universe > Sales tab, so you can easily track which payments were processed using multi-currency conversion.
When will I receive the MCC rebate?
You will receive the rebate at the end of each month, and it will be reflected on your monthly invoice.
How will refunds be handled when MCC is used?
If you process a refund for an MCC transaction:
You’ll submit the refund in GBP as usual (standard refund fees apply).
The MCC rebate amount will be deducted from your invoice accordingly.
Your customer will receive the refund in their home currency, subject to foreign exchange fluctuations.
Why does the terminal display 0.00 during an MCC payment?
The terminal may show 0.00 when inserting the card rather than tapping the card to make the payment. Don't worry, the value of the transaction has not changed, the total amount will be confirmed after the pin has been entered.
Why is the MCC payment failing?
There are a couple of reasons why you might be experiencing an issue during the MCC flow
If the card type that was selected did not matched to the card that was presented or the card that was present was not one of the card types that are accepted on this terminal there is an opportunity to retry without starting the payment flow again
If the card issuer refuses the currency conversion to the customer's home currency you can encourage the customer to retry the payment with your local currency to ensure the payment can still be completed
Can I edit the card types that we offer the customer on the terminal?
Yes, if you contact the Kody team we can help you customise these options