All the indicators point to 2022 being the year when tourists return in force to Portuguese streets. The hotels that sold out all over the country during the recent Easter season are a good example of this, but in order for Portuguese businesses to make the most of the millions of international clients expected, it's important that everything is in place to welcome them in the best possible way.
Knowing the importance of Tourism for business, REDUNIQ is now launching a campaign that will allow them not only to welcome foreign tourists with a payment service that speaks the same language as they do, the DCC - Currency ConversionYou can also offer them the possibility of obtaining benefits by using the card to pay at your establishment through the Tax Free serviceby issuing the form directly on the terminal.
DCC + Tax Free: Additional benefits for you and your international clients
DCC - Currency Conversion: your business with its doors open to the world
Available through one of automatic payment terminals (TPA) or multiple online payment solutions of REDUNIQ, the DCC- Currency Conversion serviceIn a simple and fast way, it allows its customers to choose to pay by card (Visa and Mastercard) in their currency of origin, in a transparent, informed and secure way.
The process is extremely simple. Via the payment terminal or online payment pages, the DCC - Currency Conversion recognises the home currency of your customer's Visa or Mastercard and, if the payment is eligible for DCC, the amount is shown in the home currency and in euros, as well as the exchange rate. In the end, it's up to the customer to decide which currency they prefer to pay in. In short, how does this service work?
How does the DCC work?
- The TPA automatically recognises whether the card is issued in one of the 29 convertible currencies.
- If the payment is eligible for DCC, the TPA shows the amount in the currency of origin and in Euros, as well as the exchange rate to be applied.
- To complete the transaction, follow the instructions on your terminal's display. If the cardholder chooses to convert, they must sign the slip confirming their choice to pay in the card's original currency.
In addition to the obvious convenience that this service brings to you and your customer, REDUNIQ also shares with you the costs of "Markup", an amount paid by the cardholder when they convert currency in a DCC transaction and which replaces the amount that would be charged by the card issuer in a non-DCC transaction.
This amount is intended to compensate the financial entities involved for the risks and costs associated with this exchange conversion and its value differs according to the currency of origin.
Advantages of DCC for your business
- It allows you to receive payments in foreign currency easily;
- Additional revenue due to the financial incentive;
- Offering a value-added service to its customers;
- It does not change the card payment method.
Benefits of the DCC for tourists
- You can choose the currency in which you want to pay;
- Transparency in currency conversion;
- Certainty of the amount to be paid, allowing spending to be controlled.
Which currencies are accepted at the DCC?
AEDUAE Dirham, AOA: Angola Kwanza, AUD: Australia Dollar, BGN: Bulgaria Lev, BMD: Dollar Shorts, BRL: Brazil Real, BZD: Belize Dollar, CAD: Canadian Dollar, CHF: Swiss Franc, CNY: China Yuan Renminbi, CVE: Cape Verde Escudo, CZK: Czech Republic Koruna, DKK: Denmark Krone, DZD: Algerian Dinar, GBP: British Pound, HUF: Hungary Forint, ILS: Israel Shekel, ISK: Iceland Krona, JPY: Japan Yen, MXN: Mexico Peso, MZNMozambique Metical, NOK: Norwegian Krone, RON: Romania Ruble, RUB: Russia Ruble, SEK: Sweden Krona, TRY: Turkey Lira, USD: United States Dollar and VEF: Venezuela Bolivar Fuerte.
Tax Free: a fast track to a VAT refund
For your business to be able to provide Tax Free serviceThe benefit that can be enjoyed in Portugal by citizens resident outside the European Union, allowing them to obtain a refund of Value Added Tax (VAT) on purchases made in national territory, would, until now, have had to provide payments by TPA in your establishment and hire the service from one of the companies that offer it.
However, with the partnership established between REDUNIQ and Global Blue, the world leader in managing Tax Free operations, a fast track is opening up that will allow you to issue Tax Free forms at your payment terminals. REDUNIQ Smart automatically, directly on the terminal.
Issuing the Tax Free Form - 5 steps to follow
- Offer the Tax Free service to the customer proactively, before registering the sale
- Ask the customer for their passport or other valid identification document
- Fill in the Tax Free form online using your REDUNIQ Smart terminal
- Issuing the Tax Free form
- Request the customer's telephone number or e-mail address to send the digital form and refund to credit card or digital wallet.
As well as making it easier to manage your business in an integrated way and saving time and resources (paper forms are replaced by digital communication), the introduction of the Tax Free service in your REDUNIQ Smart Android terminal will provide its customers with greater convenience throughout the entire shopping experience and VAT refunds, a component much appreciated by tourists visiting Portugal.
As we mentioned, unlike before, the Tax Free service is now automatically available on the REDUNIQ terminal, via the Tax Free app, in all establishments equipped with the REDUNIQ Smart terminal.
Tax Free - advantages:
- Tax Free is a selling point for the customer,
- Offers the customer an extra discount, which does not affect the shop's profitability
- Increases average in-store ticket
- Offers customers greater liquidity to continue spending on their trip
- Less dependence on domestic customers
- International customers spend 7x more
- Improve your customer's shopping experience
If signing up is simple, its operation is even simpler, since the introduction of the Tax Free app on the TPA, now provided by REDUNIQ, allows the usual form to be filled in manually, as well as the proof of registration code, entirely digitally. If a guarantee has been provided, the method of reimbursement is now also being defined.
DCC + Tax Free Communication Materials for Your Business
To bring tourists and businesses closer together, REDUNIQ offers various communication materials in different languages so that you can advertise on your business's social media pages or display them in your establishment, with all the benefits of the DCC and Tax Free service for your customers.
Visit the DCC + Tax Free campaign page here and download the various communication materials available.
EN 
PT