Clover Currency Choice: what it does, what you get, and how to turn it off.

The short answer

• It turns on by itself. Clover says there is no setup and no added cost.
• You are still paid in Canadian dollars. Clover says every sale shows the original CAD amount and you are always funded in CAD.
• You get a credit. Clover pays a monthly credit on sales where the customer chose their home currency. It shows on your statement as "DCC Credit".
• The customer pays for the conversion. Clover's terms add a margin, currently 3.5%, on top of a wholesale exchange rate.
• Consent is your job. Clover's terms make the merchant solely responsible for getting the cardholder's agreement.
• You can turn it off in the Clover dashboard, in four steps.

What changes on your Clover

Clover says the device detects on its own whether a credit or debit card is from another country. If it is, the customer is offered the choice to pay in their home currency. Clover's terms limit the service to Visa and Mastercard cards, and to the currencies Clover supports. Clover can change that list without notice.

Nothing changes for Canadian cards. A card issued in Canadian dollars has nothing to convert.

Clover's email says "coming soon" and gives no start date.

What the customer sees

1. The customer presents a foreign Visa or Mastercard.
2. The Clover screen shows the price in Canadian dollars and in the card's home currency.
3. The customer picks one.
4. If they pick their home currency, their card is charged that amount.
5. You are paid the original amount in Canadian dollars either way.

If the customer picks Canadian dollars, the sale goes through as it always has, and their own bank converts it.

Visa and Mastercard both say the choice belongs to the cardholder, and that paying in the local currency must stay easy. Staff should never pick for the customer. See what the cardholder must see.

The "DCC Credit" line on your statement

Clover says merchants will see one line a month for the credit they earned, labelled "DCC Credit".

Clover's terms explain where it comes from. Clover adds a margin to a wholesale exchange rate to set the rate the customer is offered. The terms say the margin "is currently 3.5% and may change" at Clover's discretion. Clover keeps that margin. Each month it credits you a percentage of your DCC sales. The terms say that percentage "may vary based on account setup", so two merchants can earn different credits.

Your normal card fees don't change. Clover's terms say a DCC sale carries the same processing fees as any other card sale.

Refunds and chargebacks

• Refunds. Clover's terms say a refund goes back at the exchange rate used on the original sale. The credit you earned on that sale is taken back.
• Chargebacks. Clover's terms say a chargeback settles in Canadian dollars at the rate in effect at that time, and that you accept the exchange-rate difference. The terms say this can include the margin as well as the price of the goods.

A customer who says they were never offered the choice can dispute the sale through their bank. See disputes and compliance.

Keep it on, or turn it off?

How to turn it off

Clover's email gives these steps:

1. Log in to your Clover dashboard.
2. Go to Settings, then Payments.
3. Click Edit in the Dynamic currency conversion box.
4. Toggle off Dynamic Currency Conversion (DCC) and click Save.

The same screen turns it back on.

Where CleverPays fits

Clover runs the service and sets the rate. Visa and Mastercard write the rules on how the choice is offered. You present it fairly at the counter.

We can read your statement with you, show how many of your sales are on foreign cards, and find the DCC Credit line once it appears. If you keep Currency Choice on, we can walk your staff through the screen. If you want it off and can't find the setting, we can help with that too, in English and French.

Common questions