How TradeGecko handles Shopify Multi Currency

From December 2018, Shopify Plus merchants will have the ability to sell in multiple currencies with Shopify Payments. With this feature, Shopify will automatically detect a customer’s country, and offer prices in that customer’s local currency - an experience that will carry on through checkout. This pricing will automatically adjust based on foreign-exchange rates, and display buyer-friendly prices with simple rounding rules. This update will support 9 key currencies at the time of launch, which includes: AUD, EUR, JPY, SGD, USD, CAD, HKD, NZD, and GBP.

In this guide

    • Understand Multi Currency with Shopify Payments
    • Understand how TradeGecko will handle multi currency shop

Understand Multi Currency with Shopify Payments

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Merchants who use Shopify Payments can enable customers to pay in their local currency during check out. When a customer selects a currency, all prices on the online store and checkout are automatically converted to the selected currency. Merchants can enable the currencies that they would like to offer to customers from their Shopify Payments settings.

The introduction of multi-currency means that the currency the merchant sees may not be the currency that is displayed to the buyer. For example, a merchant in the US will have their shop prices displayed in USD, but a shopper in Japan will see those prices displayed in the Japanese YEN.

To see more details on this feature, check out Shopify Plus resource here.

To use multi-currency, your store needs to:

  • Be on a Shopify Plus plan
  • Accept payments using Shopify Payments (Your customers need to pay for their multi-currency orders using Shopify Payments)

If you meet the requirements, check out this setup guide to enable multi-currency feature. 

Understand how TradeGecko will handle multi currency shop

Before enabling the Multi Currency feature for your Shopify store, make sure you’ve added all currencies to TradeGecko to avoid pending order as below, as seen in example below:

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When you enable Multi Currency for your store, you’ll start seeing orders coming in the local currency, based on where your customers come from. For example, here’s an order being paid in local currency with Japanese Yen:

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In TradeGecko, you won’t have to make any changes to your Shopify settings, besides adding your currencies within the TradeGecko General Settings. We will automatically import the Sales Orders, Discounts, Shipping, Invoices and Payments in the local currency.

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Note
Please note the Multi Currency feature is currently in beta and still a work in progress. Expect there to be changes to functionality and documentation as new features and/or changes are introduced. Please let us know if you have any feedback by emailing support@tradegecko.com
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