What is Dynamic Pricing
Dynamic Pricing at Paydock is a great currency conversion tool. This is a quick solution that eliminates the need for customers to manually calculate the estimated cost of the purchase in their home currency.
With Paydock, you are now able to check exchange rates at the Fiserv gateway for a non-multicurrency setup even before creating a new charge or subscription. This enables you to check in advance what the amount of the transaction will be in your default currency.
We now have two new settings available for Fiserv: With and without multicurrency. With a Fiserv non-multicurrency account, you can select the default currency in which you would like to receive money for your payments when activating the gateway at Paydock.
In order to connect to the Fiserv gateway in your Paydock account, please follow this guide.
How to use it
If you would like to use this feature, you should have a non-multicurrency account with Fiserv.
You can update and add the Fiserv gateway by clicking from the Paydock dashboard -> Services.
Here, you will not need to tick the Multicurrency Account box. You can then choose your specified currency from the drop-down menu below. Later on, we will use this currency to check the exchange rates and calculate a converted amount.
After choosing a currency, you can create a charge using these instructions.
After filling in the Payment Details fields and choosing the Fiserv account with the non-multicurrency setup as a payment service, you can press the Check Rates button. This automatically converts the charge amount against the Settlement currency (the default currency set in your Fiserv account).
Once you have reviewed the provided details, you can proceed with making a charge.