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Epoch Launches Instant Online Currency Conversion

Today, Epoch added yet another valued added service designed to increase foreign transactions, enhance the customer experience, and reduce credits and chargebacks. Instant currency conversion is now immediately available to your customers looking to pay in denominations of their own local currency.

Currency conversion has long been a factor in the balk rate of foreign customers who are not sure what amount will be billed to their credit card. By displaying the amount in one of the seven most commonly occurring currencies a customer will now know the exact amount of the charge that will appear on their billing statement. Further, Epoch is guaranteeing the exchange amount for three months regardless of what happens with the exchange rates.

By guaranteeing the exchange rate amount for three months, customers will be less confused about why a recurring charge fluctuates from month to month as the exchange rates go up and down. The positive result of this is a better customer experience and reduced credits and chargebacks.

With Epoch's new service, foreign customers who in the past received two transactions for a single purchase will now just see one. In the past, a foreign transaction would appear on the customer's statement and a second transaction would appear for the currency exchange. This problem has been eliminated with Epoch's instant guaranteed foreign exchange billing.

Additionally, clients with foreign customers have often been confused as to why a credit or chargeback amount might exceed the original transaction amount. This is due to fluctuating exchange rates. With the three month guaranteed rate, Epoch clients will be able to better reconcile differences in charges and credit/chargebacks.

At the time of this release, Epoch has not yet incorporated Canadian currency conversion into the drop down menu. The agreement with Canada is forthcoming and will be added soon.

Conversion rates will be revised once monthly on the first business day of each month to best reflect market conditions. However, the three month guarantee of recurring the original exchange rate remains in effect. This new service applies only to new sales going forward and is not retroactive to previous or recurring sales.

If you have any questions, please write to [email protected].

---Rand at EPOCH
Communications Director

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