Multi-currency pricing (MCP) is a sales tool used by international businesses to price their products and services in foreign currencies, while receiving settlement and reporting in their native currency.
With MCP, merchants can sell the same item in different currencies, which helps them expand into other global markets. MCP also allows cardholders to shop, view prices, and pay in their preferred currency without any additional fees.
MCP benefits retailers by regionalizing and expanding their ecommerce presence, reducing customer service calls and chargebacks, and displaying all financial information in their preferred settlement and reporting currency.
MCP is predominantly used in card-not-present environments but can also be used as a terminal application in card-present environments.