Expanding into International Markets
Are you looking to expand your business into international markets, but your current merchant provider limits your borders? Are you serving your global customers who are seeing a seamless and transparent way to reliably pay for their purchases?
Offering multi-currency pricing (MCP) solutions for international payments is a great option for your customers to pay for your products in their local currency. In the two options below, the way merchants approach pricing and the technical considerations are quite different.
fixed multi-curency pricing
In this model, the merchant displays all product pricing in their customer’s local currency. The merchant is responsible to maintain their product catalog in each local currency where they will sell. Website sales are also in the local currency, but the funding is deposited in USD into your US bank account.
dynamic multi-currency pricing
As the merchant, you display all product pricing in USD. At the checkout page, the merchant’s iFrame calls the Nexio “Rate lookup” API which provides a daily exchange rate so the merchant can convert the USD pricing into the local currency.