Today’s online consumers operate in a world without borders – they can shop when they want and where they want, whether that’s in Japan, Australia or the UK. According to the IPC’s cross-border eCommerce shopping survey, 16% of Italian shoppers, 11% of German shoppers, and 13% of Australian shoppers all buy goods from the UK.[1]

The rise of borderless shopping can offer tremendous benefits to both small and large merchants looking to make connections across the globe. But it can also come with its fair share of complications and challenges – merchants need to ensure that their sites are optimised to accommodate a global range of needs, depending on the countries their shoppers are from.

The Amazon Pay multi-currency transaction feature, which gives shoppers the ability to complete transactions in their local currency, makes the shopping experience more familiar and less cumbersome for EU eCommerce merchants, opening doors to new markets and welcoming new customers from across Europe and the globe.

How do multi-currency transactions work?

Amazon Pay’s multi-currency feature works like this: You enable your site to list prices in multiple currencies, allowing customers to choose which currency they want to use before they even start checking out. Then Amazon Pay charges your customer the exact amount they’ll pay in their preferred currency – and from there, converts that amount into the currency that’s associated with your accounts, and then credits that amount to your account balance – creating an easier and safer transaction, backed by Amazon technology, for both you and your customer.

Don’t get left behind in the “borderless” era

This kind of seamless integration could be a crucial tactic for staying ahead of your competitors in the next borderless phase of eCommerce. Global eCommerce sales are projected to nearly double to $6.5 trillion by 2023.[2] What’s more, according to a new report from Checkout.com, which surveyed 10,000 customers and 500 retailers, 43% of retailers said they weren’t prepared for last year’s surge in cross-border payments across Europe, resulting in lost revenue.[3]

Seize the opportunity of the growing borderless shopping trend by making it easier for your international shoppers to checkout in their own currency, and benefit from those conversions in your own preferred currency, too.

Hear it from our merchants

Several merchants have already experienced the benefits of the multi-currency feature. Here’s what they have to say:

“Amazon Pay is a brand our customers know and trust. By adding the multi-currency feature, we have seen an 8% increase in sales as we expanded into the US market.”

– Ashley Hubbard, eCommerce manager, Grenson

“Amazon Pay multi-currency is working very well for us. About a third of our Amazon Pay sales come from our US buyers, second place after Germany.”

– Babak Farahani, Senior Payment Manager, Innogames.de

How does it work?

  1. On your site, you list prices for items in multiple currencies.
  2. Your customers shop on your site, and they check out with their preferred currency.
  3. You pass the currency and the amount to Amazon Pay.
  4. Amazon Payments charges your customer the exact amount in the currency they chose during checkout.
  5. Amazon Payments converts the amount into the currency associated with your account (your ledger currency) before crediting the amount to your account balance.

What are the requirements to integrate multi-currency?

On your site you list prices for items in multiple currencies and pass the currency and the amount to Amazon Pay. 

What are the supported currencies?

Right now, the multi-currency feature is available for the following currencies, with more to come:

  • Australian Dollar (AUD)
  • British Pound (GBP)
  • Danish Krone (DKK)
  • Euro (EUR)
  • Hong Kong Dollar (HKD)
  • Japanese Yen (JPY)
  • New Zealand Dollar (NZD)
  • Norwegian Krone (NOK)
  • South African Rand (ZAR)
  • Swedish Krone (SEK)
  • Swiss Franc (CHF)
  • United States Dollar (USD)

Which plug-ins support the Amazon Pay multi-currency capabilities?

You can learn more about available plug-ins here.

Which fees will apply when adding multi-currency?

You can learn about the cross-border fees here.

I have already launched Amazon Pay. How do I set up multi-currency?

After updating the plug-in on your eCommerce platform, choose the multi-currency option in your Amazon Pay Plugin or use our integration guide for custom integration.

Visit our help page to learn more.

 

 

[1] IPC, Cross-border shopper survey, 2020.

[2] Retail eCommerce sales worldwide from 2014 to 2023, Statista 2021.

[3] eCommerce News Europe, 74% of Europeans won’t reduce online shopping, 15 June 2021. 

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