Did you know that online shoppers prefer to buy from merchants who display prices in the local currency? Over a third of all customers leave the shop if their local currency is not reflected. As an online merchant, you benefit if your customers see prices in their own currency. It builds trust and puts customers at their ease with the feeling that they are shopping with a company with a presence in the region.
Computop customizes your payment solution based on your needs. Computop Paygate offers automatic currency conversion for practically all payment methods, eliminating the need to set up and manage different bank accounts in each of the countries in your target regions. Unlike Direct Currency Conversion (DCC) offered by other providers, the conversion takes place even before the customer starts shopping, and not just at check out. This gives your customers the comfort of shopping at a site that provides them with their local currency. And you, the merchant, benefit from not being exposed to exchange rate risk. Our currency conversion solution offers you a fixed exchange rate from the beginning to the end of every transaction, even in the case of returns and credit notes involving time delays – offering you a convenient solution especially for your accounting and transaction review process. As a merchant, you get maximum security when selling goods in foreign currencies.
Computop's currency conversion brings together two essential conditions for successful foreign currency transactions: for the merchant, the exchange rate risk is minimised; for the customer, the shopping process remains convenient and simple, without any additional complexities or hassle. Computop Paygate uses IP recognition to identify the location of the shopper as soon as he or she visits the merchant's website. It then calculates, from the underlying selling price and the exchange rate, the price in the local currency that the shop should display to the customer. This price corresponds precisely to the amount later charged to the shopper. The seller, meanwhile, receives precisely the selling price specified for the goods, because the exchange rate is guaranteed for up to a year from the commencement of the transaction. The benefits to the merchant are obvious: with a higher level of customer satisfaction, he can improve the sales conversion rate at the shop whilst protecting his margins from losses caused by an unpredictable currency risk. Besides which, Computop Paygate provides regular automated reports on transactions and sales, saving the merchant valuable accounting time and costs.