Thursday, September 27, 2018
“Visa is updating the rules and expanding Visa/Plus ATM network services to help issuers cost-effectively increase their ATM footprint while providing added convenience to cardholders with additional banking transactions and services,” the company stated. “Expanding Visa/Plus ATM network services also helps acquirers/ATM operators leverage investments in modernized ATMs and realize incremental revenue by providing additional banking services to customers.”
Bruce Renard, executive director of the National ATM Council Inc., said, “We appreciate this favorable decision and Visa’s fresh look at this issue. This is a big win and positive step forward for consumers, DCC providers and the ATM industry.”
Renard went on to say that Visa’s decision to support of DCC at ATMs will provide pricing transparency to consumers, who will be able to view transaction rates in their native currencies on ATM screens and complete or opt out of transactions. Visa has supported these capabilities at the POS and in ATMs throughout Europe, Renard noted.
In October 2017, NAC petitioned Visa to support DCC on U.S. ATMs, which may have factored into Visa’s decision. “Our petition may have been a catalyst in Visa’s reaching this decision,” Renard said. “We provided consumer case studies that showed high usage and repeat usage by the same cardholders in countries where DCC was available at ATMs.”
Robert Taichman Esq., vice president, business development at Access One Solutions, said, “Visa’s decision to enable DCC will create a whole new source of revenue for ISOs. It will more than double the revenue that ATM deployers currently make with DCC. This is a positive, bright light for our industry right now.”
In April 2019, when DCC becomes available at U.S. ATMs, Visa cardholders will have more choices at ATMs, Visa representatives stated. The optional service will enable a consumer to choose to process a transaction in a local currency or their home currency.
“If a cardholder accepts a DCC transaction at the ATM, the acquirer/ATM operator may assess a conversion-related commission to convert the transaction amount in the cardholder’s home currency and dispense in local currency,” Visa stated. Visa currently allows DCC on POS transactions globally and on intraregional ATM transactions in the Europe region.
Visa positioned its decision to change DCC program rules for ATM transactions as an effort “to help ensure a consistently positive cardholder experience at ATMs, including adequate disclosures and choice.” The company said it will publish additional guidance on this new development in Visa Business News, where updated rules, pricing and instructions on how to certify ATM solutions will be available to consumers, merchant acquirers and ATM deployers.
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