AMERICAN EXPRESS
GLOBAL MERCHANT SERVICES
Multi-Currency
VIDEO TRANSCRIPT
Welcome to American Express Multi-Currency
Do you operate in the global online marketplace?
Would you like to offer your goods and services in multiple currencies?
Would you like to simplify your foreign exchange?
If you answered Yes to any of these questions, then Multi-Currency, also referred to as MCCY, may be the right
solution for your business.
With Multi Currency, you can reach more American Express Card Members in more countries…170 countries
to be precise.
170 countries to be precise.
With American Express Multi-Currency, you can expand your business globally, without maintaining a physical
presence in every country you do business in.
Do business the way you want to with flexible payment options.
Gain great insight and financial control through 24/7 centralized online management and reporting of your
Merchant Account.
And reduce the challenge of handling multiple currencies with automatic currency conversion.
American Express Multi-Currency allows you to accept transactions in over 100 submission currencies and
receive payments in 18 settlement currencies.
There are 3 flexible payment options enabling you to do business the way you want to.
With local pay you can receive payments in your local bank account.
With central pay you can receive payments in a single bank but with different currency denominated accounts.
With Cross Currency Pay, American Express can convert your submission currency into a different settlement
currency of your choice. You can then receive the consolidated payment in a single bank account.
Multi Currency can help businesses large and small. Let’s look at how multi-currency helps two very different
businesses:
Meet an Emerging Online Retailer who currently sells goods to US customers. However, the company
has noticed that they are receiving orders from customers in Europe and Japan.
1/2
Multi-Currency Video transcript
Multi-Currency Video transcript (continued)
The retailer would like to make its website more attractive to customers in those countries by presenting their
website prices in those local currencies in addition to US Dollars.
With Multi-Currency, the Online Retailer is able to accept payments in Yen and Euros in addition to US Dollars.
Now they can re-post the prices of their products in those local currencies.
The Online Retailer’s customers in Japan and Europe are able to purchase their products with the confidence
of knowing exactly how much they are paying in their own currency.
And now, instead of submitting a file for every currency, Emerging Online Retailer saves time and effort by
submitting a single file to American Express via Direct Connectivity, or to their Third Party Processor with all
transactions included, regardless of currency type.
And American Express handles the foreign currency conversion for the retailer and sends payment to their
chosen bank in their chosen settlement currency.
Let’s look at another example.
A UK-based international airline with routes to Europe, Asia, and the US has multiple Merchant ID numbers across
all of the countries they serve.
This means the airline must submit multiple ID files to American Express- THEN once they receive their
settlement files from American Express, they must reconcile their payments and convert them back into British
Pounds.
With Multi-Currency, the airline can now submit a single file.
The airline will be given a unique merchant ID for each currency combination that they require.
With Multi-Currency, American Express can process settlements to the merchant in their chosen settlement
currency or currencies
The Airline has the same three settlement options available to them as our online retailer did: Local Pay, Cross
Currency Pay, and Central Pay.
And as the airline expands into new countries, American Express can set them up so they can offer their
customers the option of paying in their local currency.
With multi-currency from American Express a new world awaits. And now, it’s easier than ever for your business
to be a part of it.
Simply notify your account representative that you’re interested in joining Multi-Currency. Your account
representative will send you the Currency Needs Assessment Form to complete.
This form gives us the information we need to begin the on-boarding process.
Then, once your Currency Needs Assessment Form has been processed, your representative will send you
a link so you can sign the Multi-Currency contract (if required) and complete your online Multi-Currency
Digital Application.
After you’ve completed the application, look out for the Multi-Currency Welcome email. It contains your new
Multi-Currency Merchant Numbers. This will contain all the details you need to get started.
Go Global. With Multi-Currency from American Express.
2/2
Multi-Currency Video transcript