Multicurrency POS (a POS that supports more than one currency) is the name given to POS devices that can process transactions in foreign currencies (USD, EUR, GBP, etc.) in addition to Turkish Lira.
Merchants using a POS with a MultiCurrency version make it possible to process transactions in different currencies with foreign cards.
MultiCurrency POS terminals are generally used in places where foreign cards are used heavily. (For example, holiday resorts, etc.)
If a POS supports multiCurrency transactions, transactions made in foreign currency must be converted to TRY when calculating turnover and maximum turnover. (Some banks keep limits separately by currency.)
Can virtual POS terminals support multiCurrency transactions?
If the necessary infrastructure is in place, transactions in foreign currency can also be carried out through virtual POS terminals.
How can I add the MultiCurrency feature to physical POS terminals?
For a physical POS to be able to process transactions in foreign currency, the POS version must first support it. If the POS version does not support it, the necessary adjustments must be made in the software on the POS.
What opportunities does MultiCurrency POS offer merchants?
- It increases customer satisfaction by offering foreign cardholders the ability to pay in their own currency.
- It provides an additional revenue opportunity in return for this service offered to foreign customers.
- It encourages customers to visit the merchant again.
- It reduces chargebacks.
- It eliminates the risk of loss in case of exchange rate fluctuations.
What opportunities does MultiCurrency POS offer the cardholder?
- The cardholder makes the payment in the currency of their choice.
- They see at the moment of payment what amount will appear on their statement.
- They see the exchange rate used and other costs clearly on the receipt. They do not need to wait for their statement to learn this information.
- During a business trip, they can easily report the expenses they made in their own currency to their company.
- Customer dissatisfaction caused by unexpected exchange rates and fees is eliminated.
