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.

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)

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 will be supported:

• US Dollars
• Australian Dollars
• Canadian Dollars
• Danish Kroner
• Euro
• GBP-Sterlings
• Hong Kong Dollars
• Japanese Yen
• New Zealand Dollars
• Norwegian Kroner
• 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.

Non-US Dollar transactions can only be completed using a credit card. A digital check is not an option when any other currency is used.

If you do not elect to limit the sale of your goods or services to US-based customers, only this feature is activated.