Difference between PAC & PMC ?
- PayAnyCard - where a defined payable funds amount can be sent in the Source Currency (EUR)
- PayMyCard - where a defined payable funds amount can be sent in Any Other Local Currency
Pay Any Card Example:
- Merchant wishes to send EUR 100 to a customer in the preferred currency of the cardholder's card (EUR = Source Currency) .
- MiFinity debits the merchant's account with EUR 100 and sends instruction to pay cardholder in the FX equivalent currency of the cardholder's card.
Pay My Card Example
- Merchant wishes to send exactly GBP 85 to a customer.
- MiFinity sends instruction to pay cardholder GBP 85 and debits the EUR equivalent from the Merchant's EUR source account balance.
Updated 11 months ago
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