When you are setting up an online store you should consider in which currency you charge your customers. Either you accept only one currency or you offer your customers the opportunity to choose from different currencies. In this article some of the of the Pros and Cons of single and multi-currency stores are discussed.
- Allow anyone around the world to purchase - but in your currency.
- The customer's bank takes care of the currency conversion.
- Are easy to set up - one payment gateway, one set of prices, one set of shipping options.
Multi-currency Store (Localized Store)
- Allows customers to choose from a set of countries.
- The site owner has to deal with multiple currencies.
- Requires more administration - multiple payment gateways, multiple sets of prices, multiple sets of shipping options.
- Are only worthwhile if the site is doing enough international volume to justify the extra overhead.
If you don't want to offer your customers the opportunity to pay in their currency a good thing might be to provide a currency converter. You could for example create a link your customers can click on it to get a real-time price for a product in a different currency. Provide a 3 letter currency code. A currency converter is a good half measure instead of a complete multi-currency setup.
Hope this helps,
BigTurns Professional Services Ltd
Vancouver, BC V6E 4R1