US trade bodies lobby Visa on dynamic currency conversion at the ATM
17 October 2017 | 1767 views | 0
Source: National ATM Council
The National ATM Council, Inc.(NAC), on behalf of the U.S. ATM industry, has launched a petition drive requesting that VISA authorize Dynamic Currency Conversion (DCC) at ATMs in the United States.
The announcement took place at this year's annual NAC ATM conference and expo - NAC2017 - ATMs Across America, last week in Las Vegas, NV.
“The U.S. ATM industry and the millions of consumers we serve daily throughout the U.S. will greatly benefit from VISA allowing DCC to be available at ATMs in America on an expedited basis. Our industry anticipates and appreciates VISA's prompt and positive consideration of this important and sensitive industry request," said Bruce Renard, Executive Director for NAC.
NAC and ATM providers everywhere recognize that DCC represents a significantly beneficial service for consumers, allowing them to complete cash withdrawals in their own currency. Consumer preference for DCC is also evidenced by the current widespread usage of DCC on the part of international MasterCard cardholders at ATMs throughout the U.S. today. VISA currently supports DCC at ATMs in other nations, but does not currently allow DCC to be offered to international VISA cardholders at ATMs in the U.S.
To encourage VISA to extend this service into the United States, NAC has initiated this petition drive on behalf of ATM owners, operators and suppliers - and the consumers they serve daily in the U.S. All ATM industry participants are being encouraged by NAC to sign the petition, to send a strong and unified industry message for VISA to promptly take all necessary steps to initiate and support DCC at ATMs throughout the U.S. The petition drive will continue to gather signatures electronically through November 1st, 2017, after which time the petition and signatures will be formally transmitted to VISA for responsive action.