Using Multi-Currency Processing (MCP) allows customers to pay for their purchases using their local currency no matter where the business they’re shopping at is located.
Enabling multi-currency processing as a merchant can make it easy for your customers to see the cost of an item in their local currency while still allowing your business to get deposits in your own business’s currency.
For example, if you have an e-commerce store that is located in the United States, you will be able to give customers the option to pay in their own currency if they live outside of the US.
The Customer Experience
Once you have added Multi-Currency Processing to your account, when customers go to checkout they will see the purchase total in the currency of their home country. The purchase will also be posted to their bank account, or credit card statement, in their local currency.
The Merchant Experience
Before the funds from your customer’s purchase are posted to your bank account, the processor will exchange the customer’s foreign currency into the currency of your business bank account. This conversation usually has a 1% fee to do the transaction. Once the funds are converted, your business will receive the deposit with the exchange rate built in.
Enabling Multi-Currency Processing for your e-commerce business makes it easy for customers to see what they will be charged in their local currency. This makes it easy for customers from all over the world to shop online for your products or services without having to worry about surprise foreign exchange rates.
If you have a merchant account with Helcim, you’re automatically able to support international credit card processing. If you’d like to add our Multi-Currency Processing service, simply contact the Helcim Gurus, and they can enable the functionality for you.