Turning Currency Conversion into a Revenue Source
Blog post from Basis Theory
E-commerce merchants often need to support customers who pay in their local currencies, as presenting prices in unfamiliar currencies can create checkout friction and reduce sales. Currency conversion typically involves a third-party provider that guarantees the merchant’s expected settlement amount while charging fees and earning revenue through a margin between the market exchange rate and the rate offered to the customer. Dynamic currency conversion can therefore improve customer convenience while also creating a potential revenue source for payment providers and merchants, particularly when prices are rounded into familiar local formats. The discussion argues that merchants can retain more control over pricing, exchange-rate margins, and profitability by avoiding exclusive reliance on full-service payment service providers, using multiple payment and currency-conversion partners, and selecting the most favorable processing route for each transaction.
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