2 min read
Posted on: March 31 2022
| Last updated on: April 13 2022
Localized currencies: Getting your money's worth
Having an online presence is more important than ever for businesses. But a customer-centric experience that maximizes conversion hinges on it being as borderless as possible. This is where localized currencies come in.
Brikl and Stripe
Payment transparency is becoming increasingly important for customers as the volatility of foreign exchange rates can make paying for goods confusing. In fact, research carried out by the Baymard Institute shows that 70% of US consumers abandon their cart at checkout. Allowing customers to pay in local currencies can reduce this number by up to 50%.
What it means for you
Your Brikl store can be configured to show prices in 135+ different currencies, allowing customers to checkout using the currency of their choice. This has a few benefits for them: their shopping experience is uniquely tailored, checkout calculations are broken down and comprehensive, and as the customer’s native currency is supported, they can sidestep currency conversion fees that may be charged by their bank.
This highly competitive feature also ensures that multi-currency ecommerce platforms selling internationally from the same business unit, for example a UK company selling in the EU, can seamlessly enable prices to be set in different base currencies. All while collecting funds in different Stripe accounts.
Have you got any questions or did we miss anything out? Let us know in the comments below. For more features and all things Brikl, head back to our blog.