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View topic - Multiple Currency Display • SSWT Internet Marketing Forum •

 

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Multiple Currency Display

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Multiple Currency Display

Postby wwwild » Wed Jun 14, 2006 6:25 pm

A service caled allows you to display your site product prices in the visitor's selected currency (inline along side your base price).

For example, your US dollar product prices could look like this for someone from Australia:
US $100.00
AU $120.55

Now, one issue that needs to be considered... Dynamic Converter is a multi-currency display system. So it will show your prices in the original currency (eg US Dollars) and the visitors currency (eg GB Pounds). The purpose of this is to give the visitor an indication of how much the product will be in their currency (however, you will still charge their credit card in your base currency eg US Dollars).

The issue this raises is this - lets say you have an customer from Australia visiting your site and the price of your product looks like this:
US $100
AU $120

Lets assume that the converted AU$ price is based on the current exchange rate. The Aussie customer then makes the purchase (and is charged the US $100). One month later: The customer then looks at their credit card statement and sees that they were charged US $100 but this was converted to AU $121.50 on their credit card bill. They think that they have been ripped off! In reality they haven't, as their credit card company may have slugged them a little extra for the currency conversion and used their own exchange rate.

To solve this issue, Dynamic Converter has a "special rate" option that can be enabled in the DC settings. If the "special rate" option was enabled, then the above example would have looked something like this:
US $100
AU $123

So - when the customer gets their credit card statement and sees they have been charged AU $121.50 and the web site stated $123 - they think that they got a bargain, rather then being ripped off.

If anyone has had any experiences with this, let me know, I'd be interested to hear from you.
wwwild
 
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