After emerging from a global pandemic, you can expect online shopping all over the world to see a large increase when compared to pre-pandemic trends. With all of these eager shoppers browsing the web, there are multi-reasons to add Multi-Currency Pricing (MCP) to your ecommerce website. Here are five:
Enhance the customer experience
You can enhance your customer’s experience with a seamless checkout process by showing prices in their local currency, which can mean less stress and more transparency for shoppers.
New revenue opportunity
Moneris offers a competitive foreign exchange rate in real time, which means we can share the benefit with you. You can earn up to 1%* of the foreign exchange revenue share on eligible foreign transactions opening up a new revenue stream.
Reduce cart abandonment
You can reduce cart abandonment with Multi-Currency Pricing, as customers are more comfortable and receive less of a shock when shopping in their own currency.
Reduce misunderstandings
Have you ever made a purchase at an American ecommerce store where it wasn’t made implicitly clear that the prices were in USD? It can sometimes be a jarring experience when you receive your next bank statement.
By implementing Multi-Currency Pricing you can help minimize misunderstandings and chargebacks resulting from price misinterpretation by making it clear at checkout how much your customer is actually paying—in their own currency.
Access reporting
Log in to our web portal called “Merchant Direct” and get access to detailed reports at any time, including a customized pricing revenue share report with revenue share information from each MCP transaction as well as other standard reports.
To learn more about Multi-Currency Pricing and how it can benefit your business, check out our video:
* The revenue share is calculated as a percentage of the amount settled to you in Canadian dollars (net of refunds and chargebacks) for a transaction in an approved currency conducted as part of the Multi-Currency Pricing services. The applicability and amount of revenue share you are entitled to in connection with your processing of Multi-Currency Pricing transactions is set forth in your agreement with Moneris Solutions Corporation for Multi-Currency Pricing services.
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