Using Multi-Currency Payment Processing to Increase International Sales

[mandy]

“In addition to Internet usage growing much faster outside the U.S., countries that have the strongest purchasing power are also outside the U.S. – like those in the European Union,” says Melissa Jones, vice president of U.S. Sales and Relationship Management for Planet Payment, an international payment processor. Planet Payment helps banks process multi-currency transactions, as well as helping merchants directly implement the tools they need for multi-currency processing. “International purchasers are able to pay a higher price point these days. Merchants have the ability to reach the basis of consumers in the world where Internet usage is growing, and the ability to reach a customer base able to spend more for each product than a U.S. consumer.”

E-merchants who “want to expand their base outside the U.S. can turn U.K. buyers, for example, into browsers just by showing them what they’ll pay in sterling pounds,” Jones says. “By doing that alone, our merchants have seen a 2 to 25 percent increase in their international sales. By simply adding foreign currency pricing; they’re effectively converting more browsers into buyers because it either looks like it’s in their country, or at least it’s intended for people in that country.”...

full article: http://www.practicalecommerce.com/articl...onal-Sales