Consumers and U.S. ATM Industry Petition VISA to Lift Ban on Dynamic Currency Conversion Services
Summary
Along with a final tally of the many hundreds of ATM consumers and company representatives signing onto the Petition, NAC has provided VISA with strong supporting data showing how well accepted DCC services are today for Mastercard transactions at U.S. ATMs (Mastercard presently allows DCC), and for VISA card transactions in other countries where VISA allows DCC today."DCC services provide the transparency and real-time information needed by consumers from abroad to better understand their cash withdrawals from U.S. ATMs in terms of the cardholders home currency," said Bruce Renard, Executive Director for NAC.The public Petition seeking VISAs authorization for DCC services at U.S. ATMs has received the endorsement of large numbers of consumers of DCC services here in the U.S. and abroad, as well as the support of many hundreds of companies, collectively representing many thousands of individuals and a significant portion of Americas ATM industry."We believe the information presented to VISA makes a compelling case for the company to modify its network rules and allow provision of DCC services for international VISA cardholders using ATMs in the U.S.," said NAC Chair and Access One CEO George Sarantopoulos."There is no good reason to withhold these services any longer, from either a consumer or industry perspective, and we are hopeful that VISA will embrace this request and grant our petition on an expedited basis."