Application currency code for dynamic currency conversion transactions with contactless consumer transaction payment device

摘要

Data is wirelessly reading from a consumer's smart card and then parsed to derive the consumer's account upon which a transaction is to be conducted between a merchant and an Application Currency Code (ACC) corresponding to a second currency. The amount of the transaction is converted from the merchant's local currency to the second currency and included in an authorization request sent to the merchant's acquirer. A receipt for the amount of the transaction in the second currency is rendered if the transaction is authorized.