If selling to multiple Countries, it is important to understand Currency logic and how it is used.

Key Takeaways

• Merchant Accounts can be setup to handle multiple currencies.
• Payment Routers are setup to a single currency.
• Price is used from the Product (Item+Offer); that total is not converted but charged based on the 0.00 amount and is charged using the currency from the Router or Merchant.
• By default, reporting is set to Native Currency.

Merchant with Multiple Currencies

If a merchant is setup to accept multiple currencies, and a Campaign uses that single Merchant (not a payment router), the default currency will always be used, unless you are passing currency_id with the place order to reflect what currency to use.

Submitting the Correct Amount

When sending over a payment request, the transaction value is passed to the gateway with the appropriate currency code. If you send over 4.25 EUR, it will be interpreted as charging the customer 4.25 EUR. Vrio does not convert the transaction value before submitting to the gateway. Businesses must rely on the payment network for exchange rate conversion when processing the payment.

Supported Currencies

You can accept and refund payments in the following currencies:

Limitations

• One currency is set per Payment Route, which means one currency is used per Campaign.
• The charge amount is pulled from the Item/Offer combination set within the Campaign. Ensure that price is set based on the currency amount to be charged.

Currency Settings

Within a Merchant Account, you can set the currencies allowed (1 or multiple) to process on that Merchant. Within a Payment Router, you set which currency this router supports (1).

If you place an order within a Campaign, the currency to be charged will use the currency of the Payment Router set on that Campaign.

Reporting on Currency

By default, Vrio will report in native currency. Each report may be filtered by Currency to see the breakdown of sales revenue by that native currency.

You may set the reporting to always report in USD. At the time of sale, Vrio automatically converts revenue into USD.

To report in USD

1. Navigate to your profile, on the top right side
2. Click Profile

3. Here you can select to Show Reports in USD. This will update all reports to be shown in USD

4. Hit submit.

Exchange Rate Logic

End of Day historical exchange rates, which become available at 00:05am GMT for the previous day and are time stamped at one second before midnight.

All exchange rate data is calculated by midpoint data. The Midpoint rate is determined by calculating the average median rate of Bid and Ask for the previous day that is time stamped at one second before midnight.