Exchange rates

The Pismo platform supports multi-currency exchange rates for international transactions. By default, daily exchange rates are defined at the organization (org) level. However, you can use the Create exchange rate endpoint to create an exchange rate for today or tomorrow for your org or a specific program.

Exchange rates for international transactions

If you have network acceptance for international purchases you must register exchange rates daily. Even if you have a flex control that blocks international purchases, it's important to register them as you may have a flex control override for a specific account/customer_id/card_id .

If you do not register exchange rates for international purchases on a daily basis:

• International authorizations will return the RAD denial code.
• Network authorization validation results will return the following object:

{
  "name": "RATES_LOGICAL",
  "status": "REJECTED",
  "reason": "RATES_LOGICAL_ERROR",
  "description": "Denied by application while performing amounts calculation.",
  "additional_data": {}
}

Example Create exchange rate endpoint request payload

{
   "program_id": 1985,
   "date": "2022-04-05",
   "exchange_rate": 4.8123,
   "spread": 1.1205,
   "origin_currency_id": "840",
   "destination_currency_id": "986"
}

The purchase is made in US dollars, but the payment for it is in Brazilian reals, so the origin_currency_id is 840 and destination_currency_id is 986. These are ISO 4217 currency code values.

The exchange_rate in the example is 4.8123, which means that 1 US dollar (origin currency) equals 4.8123 Brazilian reals (destination currency).

The spread value of 1.1205 is equivalent to 1.1205% , which represents the percentage rate multiplier on the day. The platform adds this percentage that the issuer wants to charge for the conversion to the value of exchange rates.

If this request is successful, the platform creates the exchange rate and applies it to the program, since the program_id is specified in the request.

You can use the Get exchange rates endpoint to get exchange rates for your org or a specific program.