Visa Multicurrency BIN Settlement Calculation

This feature is exclusive for Visa multi-currency settlement, and must be set up and enabled on both Visa systems and your Thredd account.

The Visa Multicurrency Settlement feature from Thredd enables Issuers to configure multiple settlement currencies for the same Visa BIN range, ensuring that settlement amounts are accurately calculated in the appropriate currency as configured between the Issuer and Visa . Thredd allows Issuers to mirror their Visa -approved multicurrency settlement configuration across their card BIN ranges by selecting from over 20 settlement currencies supported by Visa , with the option to designate a default currency for settlement.

This capability is available exclusively to Visa clients and must be configured identically on both the Visa and Thredd systems for correct settlement amount calculation.

How it works

• Visa provides daily FX rates for the 180+ global currencies that are used within VisaNet to authorise and settle transactions. For more information, see developer.visa.com: Foreign Exchange Rates

• Visa provides two currencies in their clearing files: Source Currency and Destination Currency. For the majority of transactions these correspond to the Transaction Currency and Billing Currency amounts reported in the External Host Interface (EHI) messages and global transaction Clearing Reports (CLR) .

• For most issuer programmes the Billing Currency is the same as Settlement Currency. However, if Visa Multi-Currency Settlement is set up on your BINs and enabled on Thredd systems for your card programme, then the settlement currency can differ from the billing currency.

• Thredd provides a per-transaction calculated settlement amount and currency code, integrated into existing reports and interfaces (e.g., EHI, Thredd Portal, Smart Client, global transaction Clearing Reports).

For more information, see the Multi-currency Settlement Reporting for Visa product sheet.