Getting Started » Multi Currency Service »

What is this multi currency service?

2CO provides a new multi currency service that enhances the online shopping experience for global customers. This service allows international customers to shop in a variety of currencies, in addition to USD, knowing the final charge of their purchase in their local currency.

Currently we offer customers the ability to pay in the following currencies:

  • Australian Dollar (AUD)
  • Canadian Dollar (CAD)
  • Swiss Franc (CHF)
  • Danish Krone (DKK)
  • Euro (EUR)
  • British Pound (GBP)
  • Hong Kong Dollar (HKD)
  • Japanese Yen (JPY)
  • Norwegian Krone (NOK)
  • New Zealand Dollar (NZD)
  • Swedish Krona (SEK)
  • U.S. Dollar (USD)

Why do I need this multi currency service?

Surveys and merchant experiences indicate that allowing international shoppers to shop and purchase in their local currency significantly increases international sales as well as customer conversion and retention levels. Customers are less likely to abandon their shopping cart, to charge back or to dispute their charges.

What’s in it for my customers?

Displaying final prices in local currencies, permits your global customers to evaluate their purchases in a currency familiar to them, and significantly enhances their shopping experience. Once a purchase is made, prices are final and the transaction is protected from currency rate fluctuations or bankcard conversion fees.

Which Currencies are offered?

Currently we offer the following Currencies:

  • Australian Dollar (AUD)
  • Canadian Dollar (CAD)
  • Swiss Franc (CHF)
  • Danish Krone (DKK)
  • Euro (EUR)
  • British Pound (GBP)
  • Hong Kong Dollar (HKD)
  • Japanese Yen (JPY)
  • Norwegian Krone (NOK)
  • New Zealand Dollar (NZD)
  • Swedish Krona (SEK)
  • U.S. Dollar (USD)

Can global customers pay in any currency they choose?

Payments can be made in any of the available currencies, but preferably in the currency the customer’s credit card was issued in. When a customer pays in a currency different than the one their credit card was issued in, the currency exchange rate is determined by the credit card company. The final charge is exposed to currency rate fluctuations and conversion fees and is unknown to the customer until it appears on the credit card statement.

On the other hand - when taking advantage of our new multi currency service, the exchange rate is determined on the day of the purchase and is guaranteed until settlement, so customers will know the exact amount that will be charged to their credit card at the time of purchase.

Currently we offer customers the ability to pay in the following currencies:

Australian Dollar (AUD)
Canadian Dollar (CAD)
Swiss Franc (CHF)
Danish Krone (DKK)
Euro (EUR)
British Pound (GBP)
Hong Kong Dollar (HKD)
Japanese Yen (JPY)
Norwegian Krone (NOK)
New Zealand Dollar (NZD)
Swedish Krona (SEK)
U.S. Dollar (USD)

How does 2CO determine the foreign exchange rate used for currency conversion?

2CO receives quoted rates from its currency partner once a day. These rates are based on inter-bank rates (only available to the largest international banks purchasing currencies in quantities of $1million USD or more) and include a calculated value of the costs of hedging, currency conversions and foreign exchange activities needed to guarantee the rates throughout the life cycle of the transaction. These guaranteed rates are used to calculate the USD settlements as well as refunds and exchanges.

Why are these rates different from the rates I see in the newspaper?

Comparing rates from different information sources such as newspapers or online news sites is misleading. Foreign exchange rates vary from source to source depending on their origin, update intervals and many other factors. More over, such rates are usually valid for indication purposes only.

A more applicable comparison is with currency exchange rates and fees used by credit card companies and Issuing banks which average from 2-8% over the standard Inter-bank rate. The prices available for customers through our service will be the same (or lower) than the price they would pay when purchasing in USD.

The important difference is that with our service global customers know the final price up front and are therefore much more inclined to complete the purchase.

Recent Posts from the Community:

Simulate INS

posted by: mambrain

paypal ec

posted by: sheepdogzz

2CO is ADAMANT

posted by: dseller
More from the community »

Now a faster, easier way to get paid – the 2CO reloadable MasterCard®.

Sign up today and receive a $10 credit on your card.


Click here to learn more.

Spotlight Supplier

Spotlight Supplier

Joomla! Templates

Spotlight Product

Spotlight Product

Small Business Software


Popular Tags