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Multi Currency Pricing - MCP

Multi-currency Pricing - MCP

The Airwallex MCP functionality leverages our FX capability in order to provide you the ability to price your goods and services in the most suitable currency for your customers whilst you receive your transaction settlement in the currency of your choice.

In order to leverage this functionality you need to retrieve a quote from our system (with the appropriate time validity), leverage it to display the prices in the currency your customers prefer and indicate to Airwallex that you want to use MCP for that transaction. After the transaction has settled you will receive the funds in the currency of your choice.

The below diagram provides you an overview of the whole process:

Illustration-how MCP works

Integrating with MCP

Follow the below steps in order to integrate with Airwallex MCP solution:

  1. Retrieve the most up-to-date quote from our system in order to generate the prices in your currencies of choice. For instance, if you consider your main currency USD and you wish to display your prices in PHP, retrieve the currency pair USDPHP with the validity you wish to lock it for. You have three options 0 to 24h, 24 to 48h and 48 to 72h; the longer you lock the price, the longer the FX risk Airwallex will need to cover for.
    https://pci-api.airwallex.com/api/v1/pa/mcp/quote?payment_currency=AUD&settlement_currency=HKD
    \
  -H 'Content-Type: application/json' \
  -H 'Authorization: Bearer your_bearer_token

The response is as below

{
       "payment_currency": "AUD",
       "settlement_currency": "HKD",
       "currency_pair": "AUDHKD",
       "client_rate": 5.294921,
       "created_at": "2020-06-11T06:10:40.628306Z",
       "valid_from": "2020-06-10T22:00:00Z",
       "valid_to": "2020-06-11T22:00:00Z"
}
  1. Leverage the collected rate to update the prices you display to your consumers.

  2. Use the flow Payment to complete the order details and leverage 3DS appropriately when you need it. Remember to either set the parameter ABC in your Merchant configuration or the parameter XYZ set on a transaction level so we process this transaction using the active MCP rate for your account.

  3. Upon settlement of the payment, the funds will be provided in your designated Airwallex Balance and will be available for your withdrawal.
Note

We recommend you yield your prices in a way that is appropriate for your business; continuous updates may create discomfort on your consumers.