E-commerce is a beautiful thing that allows you to reach global markets from the comfort and control of your laptop. The top ten e-commerce markets spent over 1.3 trillion online in 2015, and many merchants want to increase their revenues by expanding into these thriving markets.
While adding an additional revenue stream is never a bad idea, there are unique hiccups that occur when crossing borders. Not only do you have to take on international shipping, but your conversions rate will suffer if you can’t display your prices in their local currency. Shopping cart abandonment hovers around 68.63%, and 13% of the drop-off can be attributed to prices not being presented in the buyer’s home currency.
Historically, foreign exchange tools have been too expensive for smaller merchants to consider. Beanstream merchants of all sizes now have access to tools that enable them to expand into new markets while keeping control over their pricing. With two currency solutions to pick from, Global ePricing and Beanstream FX, you can start increasing sales and decreasing chargebacks globally.
For merchants who are based in the United States and want to sell internationally, Beanstream offers Global ePricing. With ePricing, merchants can offer over 150 currencies with one merchant account. You choose the currencies you would like to offer and select the pricing of the product. Your customer will see their local currency, while you will get paid out in USD.
Are you selling in the United States and Canada? With Beanstream FX, we can connect your USD merchant account with your CAD merchant account and allow you to pick which of these accounts you wish to settle too. By using Beanstream FX, you can avoid extra bank and exchange fees related to international transactions.
With both solutions, no additional conversion fees or hidden cost will be charged to you or your customers. Peace of mind for your customers means more business for you. We are Your Partner In Payments, let us show you the world.