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How Multi-Currency Pricing Helps You Grow Sales Globally

Have you ever thought of expanding your business and going international?

It’s not as hard as you might think if you’re accustomed to selling online. You don’t need a foreign office or warehouse, because distributors and drop-shippers can easily deliver your products worldwide. Support for international payment methods is an important first step in order to be able to effectively enter new and emerging international markets.

While you’re winning over your first foreign clients, you want to create the same comfortable shopping experience for them as you do for your domestic customers. What is one of the first things that consumers consider while shopping? The price, of course! And if the price is not listed in a currency familiar to them, it may just turn them away. Not everyone is willing to make manual calculations and convert the price into their native currency. So why not do it for them and improve the customer experience with Multi-Currency Pricing?

What is Multi-Currency Pricing?

Multi-Currency Pricing (MCP) is a financial service which allows businesses to price products and services in a variety of foreign currencies, while continuing to receive funds and reporting in their home currency.

You can sell your products to Chinese consumers in China Yuan Renminbi and to the EU in Euro. GlobalOnePay MCP allows you to price and sell in over 80 currencies with just one platform.

It reduces friction at the checkout and helps in settling and reporting in your native currency. MCP integrates seamlessly with our shopping cart plug-ins.

With MCP you are able to localize your website and cater to foreign clientele by pricing your products or services in a currency they feel more comfortable with. Automated currency conversion reduces cost through efficient FX management and your customers are not being charged extra for the service.

Contact us today to find out more about Multi-Currency Pricing.

Contributor:

Tedd Huff

Tedd Huff, VP of Products, is a 19-year veteran of electronic payments, providing businesses with strategic and tactical direction by enabling a value-driven user experience. His goal is to simplify the complexity of payments and promote growth in emerging markets through fields such as mobile payments, e-commerce solutions, online fraud prevention and security. Tedd has headed a FinTech startup and delivered innovation and process improvements for multiple dominant payment organizations. As Vice President of Product for GlobalOnePay, Tedd heads up a team of global payment specialists, helping businesses grow faster by accepting a wider range of payments from virtually any market in the world.