Standard FX rates apply when you collect payments or spend on your corporate card in currencies other than AED.
FX rates on Mamo payment processing
When collecting payments from your customers, you can do so in AED or non-AED currencies. However, we always settle you in AED.
Collecting money in AED
When you collect money in AED, you get settled in AED. Therefore, there are absolutely no additional foreign exchange (FX) rates applied on top of the standard transaction fees we charge, which are outlined on our pricing page.
Collecting money in non-AED
When you collect money in non-AED currencies (for example, USD), we will still settle you in AED. Therefore, there is a currency conversion involved and we will need to convert the payments from the foreign currency (USD) to AED.
How does Mamo calculate the exchange rate?
The FX rates we use in this conversion are pulled directly from a trusted external provider via an automated feed. These rates are dynamic and reflect prevailing market conditions, meaning they may vary slightly from the rates you might see on public-facing sources.
The rate is applied automatically at the point of transaction by our transaction engine, and while we aim for consistency, it's worth noting that the applicable FX rate will vary from time to time.
FX rates on Mamo corporate cards
In short, we don't charge any fees for spending on the Mamo Card, but standard exchange rates apply for spending in foreign currencies.
Read more about the fees (or lack thereof!) associated with the Mamo Card.