The shopping currency is the virtual currency, where consumers pay for goods at a particular online store. This virtual currency is displayed on all shop pages. To change the chosen currency for an individual, use the Set Currency Preference command in the shopping area. There are six POPULAR choices: Pounds Sterling (GBP), US Dollars (USD), Canadian Dollars (CAD), Japanese Yen (JPY), Australian Dollars (AUD) and Euro (EUR).
There are many online sites offering online shopping that can convert your purchases into your preferred foreign currency. Some websites provide this facility free of charge while others may charge a small fee. If you do not want to enter your information each time you make a purchase, choose the free method. It may also be simpler and more convenient to enter the data once for the whole year.
o. Use the online local currency conversion services available on many popular websites. You can enter the price of your item in the currency conversion service and see how much it would cost in your local currency. Many online companies offer this feature as part of their online promotions. You can select the country where you would like to shop, choose the payment method and enter your credit card information. The online site will then calculate your total in the local currency and automatically transfer your payment to the company’s online account.
o. Use the shopping currency on your app. Apps are software applications. Example, they allow you to transfer payment between your iPhone and your local currency by using the iTunes store group buying mechanism. Once the group buying has been established, you can select a payment method, select the currencies that you would like to pay in and enter the amount you would like to pay. You can then approve or reject any purchase request.
o. If your app allows you to set up merchant bank accounts, then you can set up the payments partner options on your app to support local currencies. You can select the country, state and city of your preferred currency. In most cases, you will be given the option to enter a partial amount in the local currency and then to accept the full amount in the preferred currency. This provides your customers with the ability to pay you using the payment method that they feel most comfortable with.
o. If your app allows you to enter product pages in pounds, for example, then you can use the shopping currency conversion tool. Most websites that offer this feature provide a conversion rate of the price of the item in pounds. This helps your customers to understand the conversions from different countries when they are preparing to make a purchase.
o. For those websites that allow you to enter multiple currencies, then you can set up the shopping currency option to provide a list of the most common currency pairs that people prefer. For example, you might provide the currency conversions for the U.S. dollar and the British pound. Or, you might provide the currency conversions for all of the currencies that your customers typically prefer to pay in. Either way, the list will be easy for your customers to review and you can determine which currencies will provide the highest conversions before they begin shopping.
As you can see, the default currency selected by most apps is typically the currency that the customer is most familiar with. However, you may find that a particular currency serves your needs better. If you change your default currency then you should notify your customers about this in your marketing materials. Be clear about which currency is used as the shopping currency. This will help you encourage your customers to select the currency that makes sense to them and increases the chances that they will use your app.