Accepting Payments from International Customers
With a Helcim Merchant Account, you can accept credit card payments from customers from almost anywhere in the world. Regardless of their own credit card's currency, they will be charged in CAD and you will receive your funds in CAD without any conversions. The customer's own bank will deal with the conversion at the time of the transaction. To charge customers in their own currency, learn more about multi-currency processing.
Using the diagram above as our example:
- You charge $100 CAD to a customer located in the UK.
- As the merchant you receive a deposit of $100 CAD in your bank.
- The customer is charged approx. £67.90 (British Pounds) based on today's exchange rate, with the final amount appearing on their credit card statement.
Visa and MasterCard International Interchange Rates
International transactions are subject to their own Visa and MasterCard rates, called the International Interchange. These rates are typically better priced than standard domestic Interchange rates, but there are also "cross-border" fees which impact your total cost. You can find Visa and MasterCard's international interchange rates using the links below. We also offer further discounts based on volumes.
On international transactions, Visa and MasterCard also charge "cross-border fees" if your customers reside outside of Canada. These fees are officially called "International Cross-Border Fees" and "International Acquirer Service Fees" and are typically 0.5-1.25% on top of the standard interchange rates.