> ## Documentation Index
> Fetch the complete documentation index at: https://nextgen-docs.enfuce.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Overview

Enfuce, as a processor, supports you in complying with the European Union (EU) Cross Border Payments Regulation 2021/1230. We provide you with a solution that enables you to know the following:

* Learn about the Foreign Exchange (FX) rates prior to a transaction being performed.
* Retrieve details of the exchange rate applied to a transaction, after it is authorised by the card processor and the ledger.

<Callout icon="lightbulb" color="#FFC107" iconType="regular">The Exchange Rates API is available as an additional paid feature of Enfuce. Please contact your customer success manager, if you are interested in accessing this capability.</Callout>

## Pre-Transaction | Exchange Rates API

Before a transaction is processed, you can send requests to the Exchange Rates API and perform the following operations:

| Operation                                                                                                        | Endpoint                                                                                  | Notes                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| ---------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |
| Retrieve the Visa/Mastercard supported Foreign Exchange (FX) rate conversion from a specific currency to another | [FX Exchange Rates for Supported Card Schemes](/api/exchange-rate/post-FX-exchange-rates) | You can retrieve the following important details:<ul><li>`fxRatePaymentScheme`: The card Scheme levied exchange rate.</li><li>`fxRateWithMarkup`: The FX rate, including the issuer's markup fee.</li><li>`fxRateEcb`: The ECB exchange rate.</li><li>`markupPercentageOverEcb`: The difference in percentage between the ECB exchange rate and the amount paid by the cardholder, including the Scheme's exchange rate fee and the issuer's markup fee.</li></ul> |
| Retrieve the list of currencies that European Central Bank (ECB) supports                                        | [ECB Supported Currencies](/api/exchange-rate/get-ECB-supported-exchange-currencies)      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Retrieve the ECB rate conversion from one currency to another                                                    | [ECB Exchange Rates](/api/exchange-rate/get-ECB-exchange-rate)                            | <Info>The ECB updates their reference rates every working day around 16:00 CET ([ECB Reference Exchange Rates](https://www.ecb.europa.eu/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/index.en.html).)</Info>                                                                                                                                                                                                                                |

## Post-Transaction | Transaction Event Webhook

Once a transaction is authorised or declined, asynchronous webhook notifications are sent to the ledger including the [`transaction.exchangeRates` object](https://nextgen-docs.enfuce.com/api/transaction-lifecycle/transaction-event/transaction-event-webhook-openapi#body-transaction-exchange-rates) — this comprises the ECB exchange rate applicable at the time of the transaction (provided only when the cardholder's currency is different from the merchant's currency).

## Issuer's Responsibility

As per the European Banking Federation (EBF) published implementation guidance:

"Whilst the electronic message needs only to be sent after the first 'in-scope' payment order made using the card (and not for every subsequent 'in-scope' payment order), it must also be sent once every month in which the issuing bank receives from the payer a payment order denominated in the same currency."

<Info>[Reference to Cross-Border Payments Regulation - Implementation Guidance](https://www.ebf.eu/wp-content/uploads/2020/05/EBF-CBPR2-Implementation-FAQs-FINAL-.pdf)</Info>

Hence, a cardholder must at least receive **one** message per month for each currency pair. This is the minimum requirement for post-transaction disclosure.

**Example**:

A cardholder is based in the EU:

* The cardholder performs 10 transactions in Swedish Krona (SEK) between 1st and 5th January: Send **one** notification after the first authorisation informing the markup for the SEK > EUR exchange rate.
* The cardholder performs 5 transactions in United States Dollars (USD) on 8th and 9th January: No notification is required, as this is not covered in the EBF implementation guidance.
* The cardholder performs 1 transaction in the currency of Poland (PLN) on 31st January: Send one notification after the authorisation informing the markup for the PLN > EUR exchange rate.

## Cross Border Payments Regulation (CBPR) | Reference Documentation

This is for your reference — **Article 3a Currency conversion charges related to card-based transactions**:

<AccordionGroup>
  <Accordion title="Pointer 1 in Article 3a">
    <div style={{marginLeft: '20px'}}>
      Payment service providers shall express the total currency conversion charges as a percentage mark-up over the latest available euro foreign exchange reference rates issued by the European Central Bank (ECB). That mark-up shall be disclosed to the payer prior to the initiation of the payment transaction.
    </div>
  </Accordion>

  <Accordion title="Pointer 2 in Article 3a">
    <div style={{marginLeft: '20px'}}>
      Payment service providers shall also make the mark-ups referred to in paragraph 1 public in a comprehensible and easily accessible manner on a broadly available and easily accessible electronic platform.
    </div>
  </Accordion>

  <Accordion title="Pointer 5 in Article 3a">
    <div style={{marginLeft: '20px'}}>
      <p>The payer's payment service provider shall, for each payment card that was issued to the payer by the payer's payment service provider and that is linked to the same account, send to the payer an electronic message with the information referred to in paragraph 1, without undue delay after the payer's payment service provider receives a payment order for a cash withdrawal at an ATM or a payment at the point of sale that is denominated in any Union currency that is different from the currency of the payer's account.</p>

      <p>Notwithstanding the first subparagraph, such a message shall be sent once every month in which the payer's payment service provider receives from the payer a payment order denominated in the same currency.</p>
    </div>
  </Accordion>

  <Accordion title="Pointer 6 in Article 3a">
    <div style={{marginLeft: '20px'}}>
      <p>The payment service provider shall agree with the payment service user on the broadly available and easily accessible electronic communication channel or channels through which the payment service provider will send the message referred to in paragraph 5.</p>

      <p>The payment service provider shall offer payment service users the possibility of opting out of receiving the electronic messages referred to in paragraph 5.</p>

      <p>The payment service provider and the payment service user may agree that paragraph 5 and this paragraph do not apply in whole or in part where the payment service user is not a consumer.</p>
    </div>
  </Accordion>

  <Accordion title="Pointer 7 in Article 3a">
    <div style={{marginLeft: '20px'}}>
      The information referred to in this Article shall be provided free of charge and in a neutral and comprehensible manner.
    </div>
  </Accordion>
</AccordionGroup>