2Checkout.com » exchange rate http://www.2checkout.com/community merchant account / credit card processing alternative Fri, 20 Nov 2009 14:30:12 +0000 http://wordpress.org/?v=2.8.5.2 en hourly 1 Why are these rates different from the rates I see in the newspaper? http://www.2checkout.com/community/blog/getting-started/multi-currency-service/why-are-these-rates-different-from-the-rates-i-see-in-the-newspaper http://www.2checkout.com/community/blog/getting-started/multi-currency-service/why-are-these-rates-different-from-the-rates-i-see-in-the-newspaper#comments Sat, 30 Dec 2006 07:00:00 +0000 knowledgebase https://192.168.2.217/fresh/blog/2006/12/30/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.

]]> http://www.2checkout.com/community/blog/getting-started/multi-currency-service/why-are-these-rates-different-from-the-rates-i-see-in-the-newspaper/feed 0 How does 2CO determine the foreign exchange rate used for currency conversion? http://www.2checkout.com/community/blog/getting-started/multi-currency-service/how-does-2co-determine-the-foreign-exchange-rate-used-for-currency-conversion http://www.2checkout.com/community/blog/getting-started/multi-currency-service/how-does-2co-determine-the-foreign-exchange-rate-used-for-currency-conversion#comments Sat, 30 Dec 2006 07:00:00 +0000 knowledgebase https://192.168.2.217/fresh/blog/2006/12/30/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.

]]> http://www.2checkout.com/community/blog/getting-started/multi-currency-service/how-does-2co-determine-the-foreign-exchange-rate-used-for-currency-conversion/feed 2 What’s in it for my customers? http://www.2checkout.com/community/blog/getting-started/multi-currency-service/whats-in-it-for-my-customers http://www.2checkout.com/community/blog/getting-started/multi-currency-service/whats-in-it-for-my-customers#comments Sat, 30 Dec 2006 07:00:00 +0000 knowledgebase https://192.168.2.217/fresh/blog/2006/12/30/whats-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.

]]> http://www.2checkout.com/community/blog/getting-started/multi-currency-service/whats-in-it-for-my-customers/feed 0 Why do I need this multi currency service? http://www.2checkout.com/community/blog/getting-started/multi-currency-service/why-do-i-need-this-multi-currency-service http://www.2checkout.com/community/blog/getting-started/multi-currency-service/why-do-i-need-this-multi-currency-service#comments Sat, 30 Dec 2006 07:00:00 +0000 knowledgebase https://192.168.2.217/fresh/blog/2006/12/30/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.

]]> http://www.2checkout.com/community/blog/getting-started/multi-currency-service/why-do-i-need-this-multi-currency-service/feed 0 What is this multi currency service? http://www.2checkout.com/community/blog/getting-started/multi-currency-service/what-is-this-multi-currency-service http://www.2checkout.com/community/blog/getting-started/multi-currency-service/what-is-this-multi-currency-service#comments Sat, 30 Dec 2006 07:00:00 +0000 knowledgebase https://192.168.2.217/fresh/blog/2006/12/30/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:

  • Argentine Peso (ARS)
  • Australian Dollar (AUD)
  • Brazilian Real (BRL)
  • Canadian Dollar (CAD)
  • Swiss Franc (CHF)
  • Danish Krone (DKK)
  • Euro (EUR)
  • British Pound (GBP)
  • Hong Kong Dollar (HKD)
  • Indian Rupee (INR)
  • Japanese Yen (JPY)
  • Mexican Peso (MXN)
  • Norwegian Krone (NOK)
  • New Zealand Dollar (NZD)
  • South African Rand (ZAR)
  • Swedish Krona (SEK)
  • U.S. Dollar (USD)
]]> http://www.2checkout.com/community/blog/getting-started/multi-currency-service/what-is-this-multi-currency-service/feed 2 Are Foreign Currencies Supported? http://www.2checkout.com/community/blog/getting-started/international-issues/are-foreign-currencies-supported http://www.2checkout.com/community/blog/getting-started/international-issues/are-foreign-currencies-supported#comments Sat, 30 Dec 2006 07:00:00 +0000 knowledgebase https://192.168.2.217/fresh/blog/2006/12/30/are-foreign-currencies-supported/ 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.

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