Multi-currency Payment Processing Increase Sales from International Buyers

Multi-currency processing is a standard feature you should expect in any gateway you are choosing. The reason is it enables you to accept payments and receive settlements in your choice of currencies.

Some more benefits of having a Multi Currency Payment Gateway are:

●     Obtain a competitive advantage. Merchants that offer multi-currency processing Shoppers buy more from them. And will return to your site to buy extra.

●     When buyers purchase in local currency sales increase. Reduce shopping cart abandonment and watch your profits enhance.

●     By opting for it, you show international customers that you care about their shopping experience and inspire trust in your business.

●     It helps decrease in processing expenses. To reduce processing expenses while reducing foreign exchange risk combine multi-currency processing with international merchant accounts.

●     Extensive cloud reporting increases the management of multi-currency processing accounts.

●     Automatically load balance multiple merchant accounts. Manage and view all accounts through a central dashboard.

 

Points to Consider while Choosing a Multi-currency Payment Processing Company

 

Finding a multi-currency payment processor means you can accept credit cards from customers in foreign countries too. It will allow you to display prices in the customer’s local currency and get payouts in your own currency.

You need to consider several things when you look for the right multi-currency payment processor, such as:

Desired processing currencies

Payment Processing Company in UK that offers Multi-currency payment processing usually offers a wide variety of currencies. However, double-check whether all the currencies you need are supported before you sign a contract.

 

Settlement currencies

To make sure that the funds will be deposited into your business bank account in your desired currency, ask a payment processor about settlement currencies.

Multi-currency merchant account fees

Most of the times, a multi-currency merchant account comes with additional fees. Still, payment processors don’t charge extra when a merchant accepts payments in the same currency as the one they receive payouts in. But, the conversion usually comes with a 1% extra fee, when the customer’s local currency is different from the one that a merchant receives. So while choosing a company ask about the fees beforehand only. Also, make sure the company you are choosing offers Secure Payment Processing in UK.