Multi-currency is a financial service that allows businesses to price in a variety of foreign currencies while continuing to settle accounts and reporting in their home currency.
By making your website multi-currency you are appealing to your potential overseas customers, being able to convert the prices that are on your eCommerce website to their own currency will help to make them at ease with using the site and will install confidence into the user.
What is multicurrency?
Unfortunately, multi-currency does not mean “a lot of money”, but the possibilities are there. Multi-currency supports enable customers to see the prices of products in a currency of their choice with just a click of a button.
Customers will see the cart and prices in a currency of their choice with just a single click. This will be a great help for your customers.
Why Build Multi-Currency Websites?
If English is the Lingua Franca of international business and the USD is seen as the recognized currency of online transactions, why do we need to go to the trouble of creating a multi-currency eCommerce site?
The answer is plain and simple, to keep your potential customers happy. They don’t care if we are all meant to read English and spend in dollars, they are the one about to click add the card and pull out their credit card, you should be thinking about their needs and making your eCommerce site accessible in their currency.
The ability to give your potential customers details of your products or services in their local currency helps to break down any barriers they may have to purchasing from you.
If you can price your products in someone’s local currency they know exactly what the price is and don’t have to do mental exchange rate dance.
What are the benefits of developing multi-currency websites?
1.You can work without barriers in cross border eCommerce area. Manage everything from invoicing to payments for business accounts in the currency your customers and partners prefer.
2.You can increase financial efficiency. Streamline processes for managing accounting operations involving multiple currencies and variable exchange rates.
3.You can manage international operations with ease. Maintain multiple currencies for payables and receivables, general ledger reports, bank accounts, and inventory. Use the exchange rate functionality to consolidate your financial statements.
4.You can enhance business relationships. Provide partners and other stakeholders with online views of balances and options to print financial reports for up to two currencies.
Finally, if you are interested in multi-currency website development, please call our hotline of leave a message on our website.