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Home The multiple currency payment gateway - One quick way to unlock customer loyalty in e-commerce
Monday, 14 Jun, 2021
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This article is a part of PayCEC payment insights
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As most businesses have grown up nowadays, the customer’s expectation and product range also have expanded at the same time. An e-commerce site allows merchants and buyers to tighten the connections and scale up the business, it provides the multiple currency payment gateway as an e-commerce site. It not only allows them to add more categories but also provides more payment options for merchant accounts which are much more convenient for buyers.
E-commerce platform offers merchants and buyers a whole range of opportunities and marketing tools to generate more sales and a well developed website. Without worrying about setting the location, delivery struggles, operating time, different currencies, …. E-commerce business is what all of us need indeed.
Why is E-commerce so important?
1. Forming the importance of e-commerce nowadays.
Nowadays, all commerce or daily activities are related and connected to the Internet. Digitalization is taken as the hot latest trend that is transforming the business processes for digital. Therefore, without the internet, all of this kind of business is impossible to exist and operate no matter what their first intentions are. All the merchants and buyers are connected through the digital platforms. When it comes to E-commerce, it’s all about online selling and buying goods and services which are so important at the moment. Where was the customer loyalty built from most e-commerce platforms ?
Wide variety of products and services.
As we can see, there's a range of products and services we can find on the Internet just by a click. Those kinds of stuff are created to meet our demands. Buyers can easily find what they want, like on the device they currently use. Furthermore, buyers even have more than their first one option, this point raises their buying decisions and the customer loyalty much more.
E.g: When one buyer tends to buy a table only in the first place, but then when they added to cart their stuff already, the site could suggest the related chairs, lambs, or even the delivery service.
Lower costs, compared to traditional shopping.
One big advantage of online shopping is having much lower set up costs than traditional shopping. Firstly, the Internet nowadays is almost free, that's why all merchants can set up whatever they want to operate their business as one multiple currency merchant account. Therefore, merchants don't have to think of any fees such as: operating costs, stock storage, etc. Furthermore, while they save those costs, they can even develop and reach more target customers. Then, there are several marketing channels that e-commerce merchants should pay attention to. If merchants already have physical stores, it's good for them to contribute to running both of their businesses from 2 sides: online and offline.
As the buyer, just tends to…
As the buyer just tends to make a buying decision by a click, they will have more options from this point. It raises the speed of consumer consumption for merchants when they can sell more and more on their own site. Buyers will spend more time shopping and less time consuming when they don’t have to worry about the time of making final decisions via their devices. Merchants just want to make sure their platforms are easy to use in order to remain competitive rate.
Speedy business expansion.
Based on the benefits of online shopping, most e-commerce merchants usually provide multiple currency gateway that helps them to expand their businesses globally, that's called cross-border trade. Merchants can reach more target customers and save initial setup expenditures by one multiple currency merchant account. Besides that, due to the cross-border trade, merchants should contribute and invest more in delivery aspects to build trust and customer loyalty.
Multiple currency payment gateway.
2. Importance of e-commerce payment gateway.
The multiple currency payment gateway seems like an important factor for every merchant nowadays, to set up one professional platform and websites for their own target buyers.
Convenient.
One big advantage for e-commerce businesses is their buyers can purchase the goods and services anytime and everywhere. Therefore, it’s important for merchants to provide e-commerce payment gateway. Obviously, due to this aspect, the multiple currency payment gateway can build customer loyalty indirectly.
The difference in currencies is always a big issue for multinational merchants especially. Understanding about that problem, PayCEC provides and supports major global currencies like EUR/USD/GBP/SGD/AUD/NZD/JPY/HKD in online payment collecting.Those ones would be an ideal choice for merchants to acquire card payments when setting up multiple currency merchant accounts. By integrating multiple currency payment gateways to merchant’s websites or platforms on any mobile device, enterprises can think globally and take action locally.
Decreasing technology cost.
The Internet becomes free most of the time nowadays, it reflects that there ‘s such a decrease in technology cost for businesses. Furthermore, it even shows a fact that computers are now not that pricey as in the past.
Obviously, when running an ecommerce business, merchants can save all these kinds of costs.
Obviously, when running a ecommerce business, merchants can save all these kinds of costs. They can save costs in papers and time when making all the transactions by multiple currency merchant accounts.
Increasing online commerce.
The development of e-commerce businesses nowadays stimulates other merchants following them and won’t stop moving forward. Due to the success of previous e-commerce businesses, the latter ones have been growing up so fast currently and all the buyers can see there are several e-commerce channels that provide goods and services.
3. How to register and set up a multiple currency payment gateway for your online business.
In PayCEC, we provide our customers an online payment gateway which brings quicker online payment processing, especially multiple currency payment gateways. Let's give us a try, here are the steps that help you to set up a multiple currency merchant account, including only 4 steps:
Enter Information
Document Submission
Integration Support
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Read more:
- What are the benefits of online payment gateway?
- What payment gateway is the best payment gateway for Woocommerce?
- Payment gateway for website: How to set up a payment gateway on website and optimizing it?
- The best payment gateway for WordPress websites
About us
PayCEC was established in response to the growing need of businesses to accept online payments more quickly and easily. In the new media era, our payment flow has evolved to work seamlessly and effectively across all platforms and devices. We pride ourselves on combining superior technology with first-class customer service.
PayCEC is a truly global payments platform that not only allows customers to get paid but also withdraws funds to their Business accounts in various currencies.
We have created an open and secure payments ecosystem that people and businesses choose to securely transact with each other online and on mobile devices.
PayCEC Team
- Call us: +44 2032 864370
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Frequently Asked Questions
What is multi-currency in a payment gateway?
Multi-currency in payment gateway means that your payment gateway provider can accept money from many countries in the world, like USD, Euro, SGD, AUD, and many types of currencies, including cryptocurrency, and virtual coins like Ethereum, Bitcoin, Litecoin, Tether, etc.
A multi-currency payment gateway like PayCEC can help businesses overcome many difficulties in international transactions. PayCEC provides a way for you to accept payments from over 99 countries in the world, quickly convert them to your local currency, and give you multiple methods to accept payments, like via Visa credit cards, Mastercard debit, or even cryptocurrency wallets. With PayCEC, you will never be afraid of missing a customer due to the complexity of the payment process.
Can PayCEC accept multiple currencies?
Yes, PayCEC can accept multiple currencies. In fact, PayCEC can acceptcurrencies from up to 99 countries worldwide, including America’s US Dollars, European Union’s Euro, United Kingdom’sPound, Japan's Yen, Korea’s Won, and many more types of currencies.
Starting from 2021, PayCEC Group proudly adds a new method of payment intoour expanding system, the cryptocurrency payment gateway. With the tokenization, PCI DSS compliance, 3D Secure technology, PayCECguarantees to protect merchants and customers in every transaction thathappens through ourpayment gateway system and gives users the most convenient way to make payments.
What is multi currency system?
A multi-currency system is a combination of software and procedures that enables transactions in multiple currencies, and empowers trading to be performed internationally.
For example, PayCEC payment gateway can be considered as a multi-currency system, because it provides an international payment gateway for transactions across 99 countries and accept multiple types currencies, including crypto-currencies.
What is the use of multi currency?
Yes, there are multiple types of currencies being used around the world every day. Many countries have their own unit of currency. For examples: the Japanese use Yen as their main exchange unit, the Korean use Won, the British use Pound, and the rest of Europe use Euro, etc.
Therefore, having a multi-currency payment gateway is vital for your corporation if you want to scale up and do business internationally. A global payment gateway like PayCEC would be the perfect solution for your global business to accept multiple currencies and manage international transactions.
What is multi currency transaction?
Multi-currency transactions simply mean transactions that are performed through one system under various types of currencies. Normally, a merchant can only accept trading in their local currency (if you’re doing business in the USA, you’re usually only allowed to use USD as your main unit of currency).
In order to do business with foreigners and perform cross-border transactions, merchants must connect with a multi-currency payment gateway such as PayCEC. Doing so, merchants can send and receive international payments hassle-free and increase their conversion rate, because their customers won’t have to worry about converting their currencies whenever they want to purchase an item from the merchant’s site.
Are there multiple currencies?
Yes, there are multiple types of currencies being used around the world every day. Many countries have their own unit of currency. For examples: the Japanese use Yen as their main exchange unit, the Korean use Won, the British use Pound, and the rest of Europe use Euro, etc.
Therefore, having a multi-currency payment gatewayis vital for your corporation if you want to scale up and do business internationally. A global payment gateway like PayCEC would be the perfect solution for your global business to accept multiple currencies and manage international transactions.
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We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.
Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.
PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.
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