Multi-Currency Processing Services. (MCP). Multi-currency processing (“MCP”) enables a Merchant to price its goods and services in various selected currencies (each an “Acceptance Currency”) and the Cardholder then decides to purchase the goods and services in the currency of his/her choice (e.g. Euro) (“MCP Transaction”). The Cardholder provides the card details at the point of sale and completes the Transaction in the chosen Acceptance Currency (e.g. Euro). The Transaction is authorized and submitted to the Card Brands for clearing and settlement in the chosen Acceptance Currency. However, the Merchant receives settlement of the MCP Transaction in US Dollars in the same way as it receives settlement of other Transactions under the Merchant Agreement.
Appears in 16 contracts
Samples: Merchant Agreement, Merchant Agreement, Merchant Agreement
