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Accept Multicurrency Payments Online from International Customers Easily

Accepting online multicurrency payments can be easy when you have the right tools.

Regimantas Andre

March 07, 2008

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One such advantage of operating an e-commerce website is the convenience of reaching a wider global market with a few clicks. As such, it is necessary for online merchants to have a payment system that can support different currencies to make purchasing easier for global clients. Fortunately, two of the most popular and easy-to-use online payment vendors support multicurrency payments so merchants and buyers need not fret despite being separated by the Pacific. You can get your payments and products in no time thanks to PayPal and Moneybookers.

PayPal
PayPal offers four ways of notifying merchants about payments for back-end integration. These are:

• Reporting
  
• Email
  
• Payment Data Transfer (PDT)
  
• Instant Payment Notification (IPN)
  

PayPal reports can be anything from history logs to monthly statements of accounts while email notifications are usually sent for three instances: successful, cancelled, and pending payments. PDT and IPN are essentially the same but for some key differences. Although both display payment transaction details for buyers, the time delay can be of significance. Whereas PDT displays these details to buyers when they are redirected to your website after completing their purchases, there some cases when you will not receive notifications like for reversals, refunds, or pending payments. IPN, on the other hand, will notify you instantly about any payment transaction. For best results, it is recommended that you enable both functions for your PayPal account.

Accepting online multicurrency payments for your products generally uses the same steps as when your buyers are locals. Customers go to your website, load products in their shopping carts, and head to check out. They will be directed to a PayPal encrypted page where they will be able to choose their payment option and currency. Upon completion of the payment transaction, they will be redirected to your website. Currently supported currencies include: US, Australian, Hong Kong, Singapore, New Zealand, and Canadian dollars as well as the Japanese Yen, Danish Krone, Swiss Francs, and the Euro, among others.

Moneybookers
As an international electronic wallet, Moneybookers lets your customers maintain their accounts using their local currencies, then convert it for your payments. For a minimal conversion rate, you can enjoy the benefits of having global clients at your reach. Supported currencies include the US, Canadian, Singapore, Taiwan, and New Zealand dollar, Euro, Indian Rupee, Japanese Yen, Swiss Franc, and South Korean Won, among others.

Payments can be made using any of the following options:

• Credit Cards
  
• Debit Cards
  

Instead of letting international traffic go up in smoke, you can turn them into customers by giving them the option to pay the way they like. You can accept “local” international payments from customers in over 30 countries. Moneybookers also offer online merchants with a full protection against chargeback and fraud with stringent security measures. Not only are your payments safe but also those of your clients.

Aside from the ease of accepting international multicurrency payments from around the globe provided by PayPal and Moneybookers, online merchants can beef up not only their payment solutions but also their security, marketing, and customer service fronts by joining up with an internet marketing and affiliate network like Click2Sell.EU. A network like Click2Sell, allows you to fully manage your online business by enabling the multicurrency transactions. Click2Sell.EU allows online merchants like you to view transaction details, connect with a lot of affiliates, and provide excellent customer service through extensive payment options. Without these crucial factors, being able to accept different currencies will be of no use since no one will find your website and buy products or services from you.

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