Luxury Coach & Transportation

February 2014

Magazine for the professional limousine, charter and tour industry.

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LIMOUSINE, CHARTER & TOUR FEBRUARY 2014 49 For over 15 years, Advantage Funding has provided leasing and Į nancing soluƟ ons to the ground transportaƟ on industry. Our team of professionals understand your business. Customers are our primary focus and we guarantee to make your experiences: SMART. FAST. EASY. Same Day Approval Bank Rate Financing Skip Payment OpƟ ons Available 84 month Finance/Lease Terms for New & Used Call Now To Learn More (888) 459-5156 Black Car • Limousine • Limo Bus • Mini/ShuƩ le Bus • Charter Coach • Funeral Get On The Road to BeƩ er Financing SMART. FAST. EASY. Your complete Source for Livery Financing and Leasing operators choose between the two? Ask yourself this important question: Do I care about transparency and cus- tomer experience more than getting the exact amount of USD funded to me? If so, go with GeP. If not, go with DCC. Whether you opt for DCC or GeP, you can boost your international travel busi- ness by providing an "in country" shop- ping experience on your web reservation page by providing accurate prices in for- eign currencies. As more products that can help inter- national limousine operators come out, I will continue to inform you of your options, which will hopefully im- prove your business. the reservation booking process, pay in YEN exactly what they were quoted with no added fees; the US-based operator is funded in USD equal to the price paid in YEN, according to that day's conver- sion data. This exposes operators to some risk because they may end up getting a lower payment in USD than projected, based on the currency conversion, but they may also benef t if the conversion rate offers more value to the USD. GeP offers the most convenient situa- tion for the international client. It reduces billing inquiries and improves the client experience. GeP also offers faster fund- ing for the merchant on foreign transac- tions than DCC. There are 150 currency options that may be converted to USD with GeP. Deciding Between the Two Without DCC or GeP, a customer will pay in their currency but without knowing the foreign exchange rate and conversion fees until they receive the f nal charges on their statements, creating potential is- sues. With DCC or GeP, the customer gets a clearer transaction experience. How do ent complaints, and expedites expense processing for business travelers, all of which increase customer satisfaction and generate repeat business. As of this writing, 36 of the world's most widely accepted currencies can be used with DCC. Global e-Pricing Global e-Pricing offers an even better experience for consumers because it re- quires fewer fees from them. With GeP, the consumer is only quoted in their lo- cal currency with no conversion or other related fees assessed to them. Operators set a f xed price in the respective cur- rency and receive a settlement of what- ever the conversion rate (between price in foreign currency and USD) is on the day of settlement as provided daily to the credit card processor by Visa and Master- Card. The operator may be assessed a fee by the processor, which is built into their end-of-month processing fees rather than off the top of the settlement. Now let's take the example of the Japanese tour- ist booking limo service in NYC and the operator using GeP. The customer would received a price quote in YEN during JEFF BRODSLY is the CEO of Chosen Payments, a credit card transaction processing company based in Moorpark, Calif. He can be reached at (855) 4-CHOSEN; jeffb@chosenpayments.com or for more information go to www.liverypayments.com. o f your m - , L I M O _ 0 2 1 4 i n t l c a r d . i n d d 4 9 LIMO_0214intlcard.indd 49 1 / 2 1 / 1 4 1 0 : 1 8 A M 1/21/14 10:18 AM

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