UAE-based payment solutions provider Network International has launched Multicurrency Online, which uses built-in geo-location services to automatically show the exact amount cardholders will be billed in their own currency - with no hidden charges.
The new solution will enable the company’s merchant partners to maximise their global sales potential and provide additional value to cardholders when they make e-commerce payments overseas, it said in a statement.
Multicurrency Online will determine a cardholder’s location via his or her IP address, rather than using the location of the online business.
The online store, likewise, will receive the exact payment in their own currency. For example, if a customer in Paris is purchasing from a UAE business, the cardholder will see their own bill in Euros, while the merchant will be paid in Dirhams.
Multicurrency Online is available for all Mastercard and Visa cardholders.
"Our new solution enables its adopters to scale their global business and reach new customers with localised pricing.”
Multicurrency Online also allows cardholders to choose another currency (including UAE Dirhams) for their online payment, even after automatic currency selection.
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