There are several common scenarios in which a business can benefit from accepting international payments or multiple currencies.

In order to have a Multiple Currency Merchant Account or Multi-Currency Merchant Account, you do not pay any type of wire transfer fees. Also, it is not mandatory for a merchant to have an Offshore or foreign account. Here in this article, we are going to discuss the Benefits of Having Multiple Currency Merchant Account. This will also help you understand the pros and cons to accept Multiple Currency with an Online Merchant Account.

Having a multi-currency merchant account can be a very easy way to increase the sales for a business from the international buyers. The Multiple Currency Merchant Account or Multi-Currency Merchant Account allows a merchant to display the prices of products and services in different currency. This means the buyers can choose the product from the list and make the payment as per their currency. This also helps Merchants to increase the revenue.It is very much required to have a multi-currency merchant account to accept the payment as the world is becoming a single marketplace.

Benefits Of Accepting Multiple Currencies Merchant Account

For Merchant:

Increase In Sales: As a Merchant, if you display the prices in different currency then it help in increasing the sales globally.

Higher Conversion Rate: While shopping from a website a buyer does not need to focus on converting the price into local currency. The only focus should be on buying product or services and making payment in their local currency. Using Multiple Currency Account gives you the higher conversion rate of shoppers to buyers.

Reduced Chargebacks: Transparency in currency makes it easier for the buyers to make a purchase, which in turn reduces the chargebacks. Also, a reduction in other service queries from the buyers, as Merchant showcases that they care about the buyer’s shopping experience.

Enhanced Buyer’s Trust: As buyer becomes more comfortable in buying any product or services in their local currency. So this builds the buyer’s trust or enhances their loyalty towards the merchant.

Reduction In Expenses: Using Multiple Currency Merchant Account reduces the processing fees or expenses. Also, lowers the foreign exchange risk.

Competitive Advantages: Multiple Currency Merchant Account gives you the provision of being top of the competitors as well as, makes your customers visit again and purchase more from your site.

For Customers:

Better Experience: Prices displayed in the local currency gives the buyers a good shopping experience. It also offers them more familiarity.

No Extra Fee: Buyers can pay in their local currency with no surprise factor at the end. They can avoid the currency exchange fees by paying in their local currency.

Well Informed: If buyers are well informed then they will be confident enough to buy more from the site. This will eventually increase the number of sales and revenue.

No Transaction Fee: If buyers are paying in their local currency then there will be no foreign transaction fees on their final statement of the purchase.

We have mentioned the benefits of having a Multiple Currency Merchant Account above. In case of any other queries you can directly contact Merchant Stronghold for the further assistance.

About the Author:

This article was written by Merchant Stronghold, a best High-risk Merchant Account & Payment Gateway Provider, It is specialized for credit card processing & offshore merchant account in a globe, Located in Clearwater USA. Our all-in-one merchant accounts include everything that a high risk or offshore merchant’s needs to process successfully. Processing Includes debit and credit card processing, check processing (ACH), payment gateways, and chargeback management services.