Conversion from shopping basket to completed purchase is currently running at a rate of c. 9%.
The ‘drop-off’ rate for not offering your online customer the choice of paying in their preferred currency is running at c. 20%.
Client & Partner Benefits:
Acquiring Banks
Airlines
Education
eRetailers
FX Providers
Gaming
Marketplaces
Payment Providers
Travel
Building localised websites in multiple countries with pricing in local currency is only half the battle. Offering your consumer the ability to switch from pricing currency to their preferred payment currency on the ‘path-to-payment’ will see increased conversion rates of up to 20%.
Based on analysis of our online customers, up to c.20% of in-country consumers’ preferred payment currency is different to that country’s domestic currency and the currency you have priced in.
However, ‘pricing in-country’ does not mean pricing in your consumers’ preferred currency. In-country resident and non-resident shoppers (business travellers, migrant/contract workers, and tourists) can have a payment method currency that is different to (a) the pricing currency; and/or; (b) the currency of the country they are logged-in from.
Offering these consumers the ability to pay in their preferred currency is essential. Therefore it is important that you offer multi-currency choices as well as in-country payment methods.
Continuum’s multi-currency solutions help eRetailers recapture this lost revenue which we share with you on a fair and equitable basis.
Get in contact today to find out more:
No implementation fee
No monthly maintenance fee