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.

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.

Yes, 2CO does support a number of non-US currencies at the time of sale for a number of our payment processes. This is a payment option that each affiliated supplier can elect to support.

Currencies that are supported:

• US Dollars
• Argentina Peso
• Australian Dollars
• Brazilian Real
• Canadian Dollars
• Danish Kroner
• Euro
• GBP-Sterlings
• Hong Kong Dollars
• Indian Rupee
• Japanese Yen
• Mexican Peso
• New Zealand Dollars
• Norwegian Kroner
• South African Rand
• Swedish Kroner
• Swiss Francs

The reason we’ve wanted to offer multi-currency support (in addition to the requests from our vendors) is that the USD price or approximation listed is always subjected to additional conversion costs by the card issuing bank. This usually results in a higher-than-necessary charge to the customer on their bank statement.

This rate is also frozen so that if, for example, your customer requires a refund (full or partial), they are receiving the same conversion rate at that time as they did at the time of service.

Additionally, all currencies are automatically supported, but the customer experiences the conversion rate imposed by their card-issuing bank for the US Dollar sale where the currency is not supported by 2CO.

Not all payment methods are available to all currencies.  The customer will only be shown payment methods that are available for the currency that they have selected.