The option to change the default store currency

[Milen]

As you probably know already, the option to change the default payment currency on your reseller stores has been already implemented and is working. However, we would like to get more feedback on whether resellers (particularly ones that are located outside the USA and are targeting non-US markets) intend to use the new option or not and the reasons for their choice, if they do not plan to change the default currency used on their reseller sites. Please, use the poll to vote and post any additional feedback that you have regarding the new option in this thread.

[The Loon]

I have changed from the default currency, as my targeted market is UK based and now getting interest from Europe to, the first thing they say when they saw the pricing in USD was

"I thought you was in the UK?"

Well I am and the reach of this new option that seems to reach right across the board, from the RSP control panel, the web hosting control panel and the error pages, just helps legitimise I am UK based.

[syownet]

Down the track I will probably create an Australian version of my store, and then switch to AUD (Australian Dollars). But because of the conversion, etc it costs a lot more to buy from LiquidNet in AUD than it does for me to buy in USD and my CC company perform the conversion. I will look into it, hosting is priced so high in Australia anyway I could bump the AUD up a bit anyway.

[Chameleon]

I've changed the default currency because i target the UK, where i am based.

I've been waiting a good few years for this option to go all out on this, and i am delighted that it has finally come about.

[J.L.H.C.]

I still use USD as it is still the international currency which is accepted at all parts of the world. Besides, i'm targeting customers from worldwide, meaning there's no need for me to change the currency to a particular country. It also does not have asian currency. The rate of conversion is also quite high.

[robbie247]

store currency

would be good to have store currency changer in the storefront so the end user could view the price of their choice

[Nova-Host]

Agreed. They should include that into the RSP templates.

[Milen]

would be good to have store currency changer in the storefront so the end user could view the price of their choice

Clients can already view the price in the currency of their choice on the Sign Up/Order page. I see no point of offering a redundant feature on the other pages as well. Furthermore, I think this would defeat the whole purpose of offering resellers the option to set a default currency for their hosting store. Resellers are targeting different markets and displaying all currencies on the storefront would depreciate the customization achieved by the option to set a default store currency.

[Stormm]

I have changed the default currency, Im aiming for people in Holland, Germany.


IMO it's a good thing

[maxa]

You loose money on it

I changed but noticed that I was loosing money on it. A $40 hosting account cost me some $46 if I paid in Euro, so I had to switch back to USD.

Correct me if I'm wrong.

[Nova-Host]

Yes, maxa, I believe you are indeed correct. In Euro, it is indeed more expensive for us, but not for the market we're targeting, which I believe is the whole point, if I'm not mistaken.

[Milen]

I changed but noticed that I was loosing money on it. A $40 hosting account cost me some $46 if I paid in Euro, so I had to switch back to USD.
Correct me if I'm wrong.

You are right. If you choose a default currency different from the US dollar, the wholesale prices of the services are increased by 15% to cover billing as well as compensate risks from currency exchange rate fluctuations. It is explained in the Store Currency tab of the Store Settings section of the reseller control panel.

[dfhosting]

Why show other currencies on the sign up page when stores are set to USD ?

Hi everyone,

I would like to raise the issue of showing other currency rates on the Sign Up/Order page when a store is set to USD.

I am only a new reseller and I may have misunderstood this situation - [If so I'm sure someone will correct me]

But displaying other currency rates on the Sign Up/Order page of USD set stores [which are inflated by the additional 15% Liquidnet conversion fee] - makes the services look much more expensive to potential non US customers with a possible loss of sales.

If we only wish to trade in USD [because it allows us to buy reseller services at the cheapest prices] - and since anyone in the world can still pay in USD with their own countries credit card paying only a small bank conversion fee [which they expect and are used to paying on the majority of internet transactions] - why display and give the choice to pay in other currencies?

I assume customers outside the US could still select to pay in USD with their own countries credit card as explained above. However, by being prompted as they are, to select their own currency, it will either cost them 15% more or possibly cause us to lose a sale because it is so much more expensive than they expected to pay from the advertised prices elsewhere in the store.

This issue does not apply to those of us who, for marketing reasons, choose to set our stores to non USD currencies because the other currency rates displayed on the sign up page reflect a true international conversion rate. This of course, is because the 15% Liquidnet additional conversion fee is already included in all of the fees quoted so there is nothing unexpected or inequitable displayed to the potential customer.

So why on earth are we showing these inflated non USD currencies on the sign up page of USD set stores?

[Milen]

So why on earth are we showing these inflated non USD currencies on the sign up page of USD set stores?

Some clients prefer to pay in their native currency regardless of the higher prices to do so.

We have already received the suggestion to allow resellers to choose a single currency for their store and display all prices only in the chosen currency, so this option might be implemented in the future, although I cannot promise anything in this aspect.

[dfhosting]

We have already received the suggestion to allow resellers to choose a single currency for their store and display all prices only in the chosen currency, so this option might be implemented in the future, although I cannot promise anything in this aspect.

1/ What's the progress on the suggestion to allow us to only show the currency of our choice in the check out and not all currencies?

We could then only show an international currency like USD and prevent the costly 15% Liquidnet conversion charge.

2/ If it is not going to be implimented - could we at least have a tag somewhere next to the USD figure in the checkout to say something like - "Pay in USD and SAVE"

This way people still get the choice of payment methods but you are also reminding them they can SAVE by paying in USD to avoid the 15% Liquidnet conversion fee.