Multicurrency eCommerce sites are global solutions which are able to accept a range of different currencies and translates them into your local currnecy. Making your ecommerce website accept multiple currencies is the missing link in achieving truly international trade through the internet. Many buyers a wary of purchasing from stores in unfamiliar currencies and subject to the whims of the international exchange rates.
Why Do You Need A Multicurrency Solution?
Making your website multicurrency gives your solution the edge, making your overseas customers feel comfortable and giving them more choice when it comes to making purchases online, especially given the slow uptake of ecommerce in many european countries.
Accepting Multiple Currencies
There are requirements to accepting multiple currencies, which can make the move seem difficult and complicated.
1. Multicurrency Ecommerce MID - Not all banks provide multi currency MIDs by default. They may have to be specially requested.
2. Exchange rate management system - There are various ways to implement the exchange rates that are required to ensure that you charge a fair price to every customer, at the very least you can update the rates every week or so, or you can implement a tracker that will update according to one of several exchange rate feeds.
3. Delivery rules must be modified to account for the extra cost of overseas postage, an expert ecommerce company will make your system smart enough to automatically adjust the delivery options, and thus the cost at the point at which your customer enter their delivery address. This avoids any need to call a customer back to confirm the higher delivery cost and will aid customer confidence in your site.
4. Investigate any issues with international shipping and put these into your terms and conditions. International shipping is covered by a great deal of legislation, some items are not permitted to be imported to certain countries and other countries impose high customs fees. The more up to date information you can place on your website the more assured and confident in purchasing your customers will feel.
Choose Advansys For Your Multicurrency eCommerce Solution!
So really all very simple and if a higher degree of effort is required, then the results really are worth it. For more advice on multicurrency ecommerce, please talk to our professional team of eCommerce specialists directly.
We’re always happy to help and can help you take your business in the right direction.
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