Question
Canadian Tire Corporation Ltd
CA
Last activity: 23 Aug 2022 9:10 EDT
Foreign Currency Pre-Arb
According to Mastercom rules, pre-arb case filings may only be done in a single currency, either USD or EUR, requiring that the transaction amount be converted to one of those currencies by the user when submitting a foreign currency Pre-Arb.
Is there plans for Smart Disputes to support the processing of foreign currency Pre-Arbs to include the currency conversion to USD or EUR?
***Edited by Moderator Marije to add Capability tags***
Accepted Solution
Updated: 23 Aug 2022 9:10 EDT
GoldmanSachs
IN
Hi Jamie,
As per Mastercard rules, for domestic transactions pre-arbitration can be submitted in local currency but for a cross border transaction it should be submitted in USD or EUR
As of now we leave the conversion to operators as there is no convertor provided by Mastercard within the MCOM APIs and clients across the globe have their preferences on the exchange calculator to be used. So this has been kept open to clients to integrate with the currency conversion of their choice.
However Mastercard has a Currency Convertor outside the MCOM API suite. This has a seperate charge, authentication and credentials from Mastercard. It is again a new integration which is part of our roadmap for next version of the product.
Hope you had a chance to attend the Smart Dispute client forum on 24th March 2022 where we had presented the roadmap. If you were not able to attend the recording and PPT are available on SD spaces. If you do not have access to SD spaces please reach out to your Pega account team/client success manager.
Regards,
Rakesh