When the DCC Forum was established in 2014, our members elected to adhere to a set of principles to ultimately advocate the best practice of DCC, and ensure it is administered in line with all card scheme rules. Core to this are several ways that we ensure best practice is maintained by the DCC service providers, so that cardholders are fully informed on the choice available when they completed a purchase abroad.
When a cardholder abroad chooses to make a purchase via DCC they are afforded transparency around the payment they are making. What they have seen on the terminal at point of purchase is what will appear on their bank statement, removing any uncertainty around additional fees or charges that could appear at a later date. One of the aims of the DCC Forum is to oversee that this transparency is upheld by merchants and organisations. From ensuring that the DCC payment option is properly presented to customers at point of sale, to monitoring that regulation is being adhered to by merchants across the industry, it is critical that the consumer is fully informed about the financial consequences of their decision before they make that choice.
Training and educating
For merchants and staff who are on the front line handling the transactions, it is critical that they have a complete understanding on the options available to international customers paying by card. They need to be able to explain the choice to customers to help remove any uncertainty and to enable the cardholder to select the option that is best suited to them. Training staff in-store about the differences between a DCC transaction and a non DCC transaction helps empower them to offer a better experience to the customer. If a customer has all the information available prior to making their choice, they will feel more confident in their decision and be more likely to re-visit.
Evaluation and innovation
As the eyes and ears of DCC across the industry, we believe that when DCC is offered, it should be done so correctly, in a clear and transparent manner that is easy for the cardholder to understand. Continued evaluation is key to being able to identify areas for improvement, and evolving technology brings exciting opportunities for making the lives of both merchants and cardholders easier. We're always looking at how innovation can bring new layers of transparency, enabling merchants to offer a better and well-regulated experience, to their international customer base and ultimately keep moving the industry forward.