You started your online business to broaden your customer base. Because of this, you’re shipping orders all around the world, even to places you’ve never visited. All of this is very exciting but now you’re hearing terms like “localization”, “internationalization” and “multi-currency.” Do you know everything you need to know to run a business for your international customer base? Should you consider localizing and accepting payments in your customers’ local currency? We’re here to demystify and explain why you should and the best way to offer multiple currencies in your shopping cart!
The importance of supporting multiple currencies is best explained with the pitfalls of single currency checkouts. Enabling only one currency for your shopping cart not only limits your customers to shop but also checkout using that currency. This could be a major deal breaker for a customer who can’t find their local currency.
Pitfalls of single currency checkouts
Limiting customers to shop in a foreign currency deters them from completing purchases and leads to cart abandonment and lost sales. According to Statista, 13% of online shoppers abandon a site when prices are presented in a foreign currency. . Additionally, once a customer makes a purchase in a foreign currency, their banks may impose foreign transaction fees; thus penalizing your customers for shopping on your online store.
Offer Multiple Currencies with Authorize.Net
That’s where Authorize.Net - a PrestaShop certified multiple-currency payment processor and a pioneering provider of ecommerce payment services - can help. Authorize.Net supports multiple currencies (USD, GBP, EUROS, AUD, CAD, NZD), so by using Authorize.Net and PrestaShop together, you may increase sales by allowing customers to shop and checkout in their local currency. Avoid chasing customers away with foreign bank fees and fluctuating exchange rates! Learn more by visiting PrestaShop Addons, and get started by downloading the Authorize.Net module.
In addition to accepting payments in multiple currencies, PrestaShop merchants using Authorize.Net also enjoy the following great benefits:
- Free Customer Support
- Free Virtual Terminal
- Easy Set Up and Configuration
- Additional Services Including:
- Recurring Billing
- Payment Tokenization
- Advanced Fraud Detection
- No Long Term Commitments
Not yet a PrestaShop merchant? What are you waiting for? Download the best ecommerce software to start selling to customers abroad in their preferred, local currency and watch your business become an international sensation.