Accepting international currencies

[userdan]

For those of you who are into e-commerce, do you accept international currency? Or do you just stick to a single currency? To be honest, I haven't really seen too many online merchants accept multiple currencies. Those that do usually accept only a few currencies, like British pounds or Euros and US dollars. If you don't accept multinational (I think that's a better term than intenational) currencies, then why not?

[kirkas]

I think the problem with accepting multiple currencies is that the foreign exchange market is always changing. What if the next day the dollar to euro exchange ratio has changed? That would mean that some of your customers may be paying you for less than your product is worth, which means you lose money. Better to stick with a single currency, I say. At least that way you'll know exactly how much you're being paid.

[carl owen]

Well, when it comes to accepting multiple currencies, nowadays, most of the E-commerce websites which provide products and services to customers accept payments via Payment gateways so that the risk involved in accepting payments can be avoided ;)

Due to this, it has become easier for E-commerce website owners to accept payments in other currencies also as these payment gateways have an option to manage currencies and these payment gateways can convert the amount into different currency which makes it easier for the customers to pay and E-commerce website owners to accept payments :dancing: Also, if a payment gateway does not include this option, the customer can convert the amount in any currency and pay through the payment gateway

This option has made it very easy for the E-commerce website owners to accept payments and avoid the risk of fraud payments. Hence, now it is suggested that every E-commerce website should accept payments via Payment gateways only

[iamsam]

Well, the risk of fraud payments has been reduced in Paypal, but there are other risks, too. But yeah, if you let your merchant account or payment processor handle currency conversions, then you should be fine. There may be an additional charge, though.