Why did MasterCard create the Currency Conversion Tool?
MasterCard’s Currency Conversion tool was created to assist customers in Europe to comply with the provision contained in the Payment Services Directive (PSD) that requires transparency of exchange rate information. Specific reference is made to the transparency requirements imposed by Title III of the PSD that apply to payment services made in Euro or any of the official EEA currencies. In addition to providing customers with calculated cross-rates for all EEA currencies, MasterCard has extended the range of currencies to assist customers and their cardholders globally.
