When a customer pays with Canadian dollars, what is this term referred to?

When a customer pays with Canadian dollars, the term used is "presentment currency." This refers to the currency in which the transaction is presented to the customer at the time of payment. In this case, since the customer is paying in Canadian dollars, that currency is the presentment currency for the transaction.

The presentment currency is particularly important because it determines how the transaction is processed and displayed to the customer during the checkout process. It's essential for ensuring that customers see the correct amounts in their local currency, which helps in maintaining user trust and clarity in pricing.

Settlement currency, on the other hand, refers to the currency in which funds are finally settled between financial institutions, which can differ from the presentment currency. Reference currency typically describes a standard currency used for comparisons or translations, while conversion currency deals with the currency that may be used to convert another currency based on current exchange rates. Each of these other terms serves a different role in the payment processing ecosystem.