Adding Currencies under a Single-Platform Approach
Language, culture, logistics, regulation, taxation and payment preference can all vary significantly from one country to another. How a merchant chooses to present itself to consumers through its Website in another country will contribute mightily to the success that merchant enjoys in that part of the world. Another factor that varies, naturally, from region to region around the world is currency. Offering products and services in a currency a consumer is comfortable with is vital, but comes with pitfalls.
Fraud controls, tokenization schemes, chargeback management, all need to be integrated into multiple platforms for merchants that want to sell overseas. And, one of the most complex issues is offering local currencies. Managing multiple conversion options is complicated enough, but having to integrate to a separate platform each time a merchant wants to add a currency is costly and time consuming.