How To Cash In On Accepting Currencies — And How It Just Got Easier
February 14, 2018
1 year ago
Recently there’s been a lot of talk about accepting multiple currencies.
If you live and sell in the same country, this might not be a big deal for you — especially if you live in a country with a large population. However, if your product is unique, it’s likely that at some point someone from another country will want to buy it. In fact you could be leaving out a large part of your target market by not advertising to international customers.
Accepting multiple currencies makes it easier for your customers to buy from you. It removes the hassle of paying conversion fees and foreign transaction fees and it makes your store feel like a safer, more familiar place. Everyone likes to pay for things in their own currency.
Up to now, accepting other currencies has been extremely challenging — usually it required setting up multiple stores in different currencies.
Enter, Cashier and Multi-Currency by Bold.
Other apps display prices in local currencies but once a buyer reaches checkout, they are charged in the store’s default currency.
This can be confusing for the customer and it is almost sure to create a negative association with your store. It’s annoying to think you’re going to be charged in one currency, only to find out that you’re not — and in fact, you’ll have to pay a fee just to buy!
Don’t make your customers do that.
Multi-Currency and Cashier working together allow your customers to check out in their local currency. It works with many payment gateways including Stripe. You can convert the cash right away and deposit it to your bank, or you can hold on to it until an advantageous time.
Getting set up requires a tiny bit of code, but it’s absolutely possible to DIY it. Just follow the directions on Bold’s how-to blog article.
If you don’t want to get your hand’s dirty, you can always ask a Storetasker expert to help you out. Post a project here.
So to review: accepting currencies is good. If you offer a unique product with international interest, you’ll want to do it. Using Cashier and Multi-Currency make doing it way easier.
What’s your experience? Are you thinking of offering multiple currencies, but not sure where to start? Maybe you’ve used another app or set up multiple stores for each currency — let us know!
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