When you enter the world of eCommerce, you break the barriers of geography and have the potential to be seen worldwide. The exponential growth of online sales has seen consumers expanding their shopping horizons to sellers from different corners of the world. If you have the will to put yourself out there, you can grow into an international business.
The markets that are growing fastest are the ones that are out of the traditional scope of business. Shopify gives you the platform and payment gateway to expand your business and make sales around the world.
This eCommerce and payment solutions allow you to add an option enabling the buyer to view all prices in their selected currency. You can also collect the payment in the currency selected by the buyer. But, some may consider the idea of generating an income in different currencies to be something rather complicated. Sourcing and pricing your product or service in one currency and then selling it in another currency involves technicalities. Shopify’s multi-currency payment gateway makes it very simple for you.
Whether you are a small startup or a huge business, the multi-currency experience that it offers you is seamless, simple, and easy to manage. Shopify can handle the technical aspects of the conversion for you. The Shopify Plus solution helps you grow your business globally.
It handles the technicalities of currency conversion for you, while you focus on the business aspects of your store. You can break into new markets with confidence that the technical aspects as well taken care of. Shopify Payments allows you to think globally while making sales locally.
The advantages of enabling your store to transact in multiple currencies are many. The biggest advantages are:
Customer Perception And Comfort
A customer will perceive your Shopify store as comfortable and familiar when all rates displayed and payments transacted by the payment gateway are in their own currency. They will not have to do the mental math to convert every price they see. Customers will also find their shopping experience more enjoyable when they are concentrating on admiring and selecting the product or service. Also, your customers will not be charged extra fees by their local bank or card for paying in a foreign currency.
Global Business With Localised Offerings
Shopify even allows you to create expansion stores with the entire look and feel of the store tailored to the demands of different geographies and markets. So, while running your business on a global scale, you can still make your customer experience localized and familiar.
A customer will feel more at home with and trust a seller who is transacting in their own currency. Some users might also be wary about security and data safety when it comes to transacting with a foreign website. All of this is avoided when the prices are displayed in the local currency, as it generates a feeling of trust in customers. When you localize the customer experience, it translates into more sales.
Growth Made Easy
Grow your company quickly and easily, without experiencing growing pains. The multi-currency solution by the Shopify Plus store and payment gateway takes all the complications out of the conversion technicalities of international transactions. You can take on the world by selecting all the currencies offered. Or, if you would rather take it one step at a time, enable the currencies of the countries you would like to sell to. You can always change your mind and remove a currency just as easily.
Behind The Scenes Integrated Tech That Is Transparent
You will have to price your products as you usually do. Shopify does the math for you and converts the pricing to the customer selected currency based on the foreign exchange rates and the fee. Rounding off rules are applied by the payment gateway as per the selected currency.
Shopify handles the conversion right from your storefront display to the order confirmation, payment gateway, and reports. Conversion is applicable to all aspects of your store business, including price, tax, discounts, gift cards, shipping, and refunds. Payouts to you will be in your currency with the math of the conversion and fees clearly stated.
Economical And Lucrative
Shopify payment gateway charges low conversion fees and no transaction charges, making the expansion of your store to handle multiple currencies economically viable. The ability to sell local regardless of geographical boundaries, in turn, will enhance your sales figures.