Commidea partners with Global Refund
Commidea, the leading card payment processing solution provider, has announced a partnership with Global Refund, the world leader in VAT refund services. The partnership provides non-EU tourists with the ability to claim back the VAT on goods purchased in the UK through an additional function on Chip & PIN terminals. In 2008, non-EU retail spend in the UK totalled £2 billion.
TFS and DCC DatasheetCommidea has added functionality to its Chip & PIN terminals to provide VAT refund receipts to overseas travellers and the ability to purchase in the card billing currency (Dynamic Currency Conversion).
Additionally, when a card is entered into a Chip & PIN terminal at a retail outlet, it can instantly recognise whether the card has been issued outside the EU. Also the card billing currency for Dynamic Currency Conversion is automatically detected and offered. Customers are then offered the ability to get a VAT refund form and to pay in their card currency.
“Global Refund is delighted to be entering into a partnership with Commidea. We will be able to provide innovative functionality, an enhanced user experience and additional revenue streams for merchants thanks to the inclusion of our Tax Free Shopping and Dynamic Currency Conversion products, made available through Commidea’s solutions.“ said Nigel Dasler Vice President Sales, Global Refund.
“The partnership offers Commidea a great opportunity to both extend its reach, as Global Refund serves over 16,000 retail outlets in the UK, and offer further value-added services to our existing customers” said Ian Rutland, Director of Marketing and Communication, Commidea. “Our solution brings choice, convenience and transparency to the partnership. Participating retailers will benefit from increased footfall by providing tax free shopping to overseas travellers and increase customer satisfaction as customers can choose to pay in their own currency. The automated tax-free receipt speeds up the process of issuing the traditional forms. Retailers and consumers alike will benefit.”