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Fintrax has patented a unique process for an efficient DCC system. This system was patented in 1999 and was officially granted in 2001 by The European Patent Office.
Fintrax have been certified to process credit card transaction by
Visa and Mastercard
and are
PCI Compliant
(Payment Card Industry Security standard)to the highest security level (Level ONE)
DCC Patent 1999
Mainline Corperate Holdings Limited, a company within the Fintrax Group filed a unique Dymanic Currency Conversion(DCC) Process in July 1999 under the application number 99202852.2
The patent was granted in December 2001 and published in the official EPO bulletin number 2001/49
The patent is for the invention of a card payment process called the Dynamic Currency Conversion System, known as DCC. The patent, which covers a method and system to automatically identify the currency of a foreign card (credit, charge or debit) in a card transaction, has been filed in most countries world-wide.
The patent involves the automatic identification of the currency of a foreign card during a card transaction - it detects cards in all major currencies. The advantage of the patent is that it enables a merchant (retailer) offer the cardholder the choice of doing the transaction in the cardholder’s currency instead of the local currency.