How to Change Checkout Currency in Shopify

Table of Contents

1. Introduction
2. Enabling Multiple Currencies in Shopify
3. Handling Third-Party Payment Gateways
4. Advanced Setup with Shopify Markets
5. Tips for Optimizing Multi-Currency Checkout
6. Conclusion
7. FAQs

Introduction

Ever wondered why your international customers abandon their carts at the last minute? The culprit could be the currency displayed at checkout. Imagine your customers browsing your store in their local currency, only for the final price to switch to a different one at checkout. This discrepancy can lead to cart abandonment and lost sales. How can you ensure your customers see and pay in their preferred currency right through to the checkout? Keep reading, and you'll find out how to change the checkout currency in Shopify to improve your customers’ experience and potentially boost your sales.

In today's global market, accommodating customers from different regions has become crucial. Being able to showcase prices and accept payments in multiple currencies can significantly enhance the shopping experience. Shopify does offer solutions to address this, but there are certain limitations and complexities involved. This blog post will walk you through how to effectively change the checkout currency in Shopify, ensuring a seamless customer experience.

By the end of this guide, you'll have a deep understanding of how to manage multiple currencies at checkout. This will include enabling Shopify Payments, understanding third-party payment gateways, and using apps that enhance multi-currency functionality. Let's dive in!

Enabling Multiple Currencies in Shopify

Shopify Payments

The most straightforward way to offer multiple currencies at checkout is by using Shopify Payments. This built-in feature allows stores to display prices and accept payments in different currencies. However, enabling this requires a few steps:

1. Activate Shopify Payments:

   • Navigate to your Shopify admin panel.
   • Go to Settings > Payments.
   • Under the Shopify Payments section, click Activate or Complete Account Setup.

2. Add Supported Currencies:

   • Once Shopify Payments is active, go to Settings > Payments again.
   • In the Shopify Payments section, click Manage.
   • Scroll down to Countries/regions and click Add country/region.
   • Select the countries or regions you want to support and add them.

3. Configure Currency Conversion Settings:

   • Shopify automatically converts prices using real-time exchange rates, but you can also set custom conversion rates.
   • Go to Settings > Payments > Manage.
   • Under the Currencies section, you can customize rounding rules, add exchange rate measures, and set up international pricing.

Benefits of Shopify Payments

Using Shopify Payments to handle multi-currency checkouts comes with several advantages:

• Integration: Fully integrated with your Shopify store, making setup and management seamless.
• No Extra Fees: Unlike third-party payment processors, there's no additional fee for currency conversion.
• Accelerated Checkouts: Supports faster checkouts with options like Apple Pay and Google Pay.

Handling Third-Party Payment Gateways

Not all merchants have access to Shopify Payments, especially those in regions where it isn’t supported or those relying on specific third-party payment processors for other reasons. Here are steps and considerations for these scenarios:

Challenges with Third-Party Gateways

• Currency Conversion Limitations: Many third-party gateways do not support multi-currency checkout natively.
• Customer Confusion: Users may see prices in one currency but at checkout, see another, causing confusion and cart abandonment.

Solutions and Workarounds

1. Multi-Currency Apps:

   • Apps like BEST Currency Converter or Bold Multi-Currency can help convert prices for your customers.
   • These apps automatically switch currencies based on a visitor’s location and ensure the currency remains consistent throughout the browsing experience.

2. Custom Checkout Scripts:

   • For those using Shopify Plus, custom scripts can be applied to handle currency conversion at checkout.
   • However, this often requires development expertise and may involve additional costs.

3. Notify Your Customers:

   • Clearly inform customers about the currency they will be billed in at checkout to manage expectations.
   • Use banner notifications or FAQs to communicate any potential discrepancies.

Integrating Currency Converter Apps

For stores relying heavily on third-party payment processors, utilizing currency converter apps can be a practical solution. Here’s how to set one up:

1. Choose a Currency Converter App:

   • Browse the Shopify App Store for a reliable currency converter app with high ratings and good reviews.

2. Install and Configure:

   • Install the app and follow the setup instructions.
   • Configure the app settings to match your store’s pricing and conversion needs.
   • Enable automatic price adjustments based on IP location or allow users to manually select their currency.

3. Ensure Compatibility:

   • Verify that the app works seamlessly with your store's theme and other installed apps.
   • Test the currency conversion process by making a test purchase from different regions.

Advanced Setup with Shopify Markets

Shopify Markets is a comprehensive solution for managing international markets, offering tools for setting up multi-currency pricing and localization. Here’s how you can leverage Shopify Markets:

Setting Up Shopify Markets

1. Enable Shopify Markets:

   • Navigate to Settings > Markets.
   • Click Add Market and select the regions you want to target.

2. Configure Market Settings:

   • Within each market, you can set localized pricing, custom duties, taxes, and checkout preferences.
   • Enable the currencies relevant to the target countries or regions.

3. Localize Your Store:

   • Shopify Markets allows for localization options, including language support and product offerings tailored to specific markets.

Benefits of Shopify Markets

• Centralized Management: Manage all international markets from a single dashboard.
• Localization: Tailor your store to meet the needs of different markets, enhancing customer experience.
• Efficiency: Simplifies the process of expanding globally with automated settings and workflows.

Tips for Optimizing Multi-Currency Checkout

• Transparent Pricing: Ensure that all pricing, including taxes and shipping costs, are displayed in the customer’s chosen currency.
• Clear Communication: Use banners or notices to inform customers about currency changes at checkout.
• Consistent Experience: Ensure that currency remains consistent from product pages to the final payment to reduce cart abandonment rates.
• Customer Feedback: Regularly collect feedback to understand customer preferences and pain points regarding multi-currency checkout.

Conclusion

Changing checkout currency in Shopify is crucial for appealing to a broader audience in today's global e-commerce landscape. Whether using Shopify Payments, third-party gateways, or apps like Shopify Markets, there are solutions to provide a seamless multi-currency experience for your customers. By following the steps outlined in this guide, you can significantly minimize cart abandonment and enhance the overall shopping experience on your Shopify store.

FAQs

Can I use multi-currency features without Shopify Payments?

Yes, you can use third-party apps to offer multi-currency features. However, customers will ultimately checkout in your store’s default currency unless Shopify Payments is enabled.

Why isn’t the checkout currency changing even after enabling multi-currency?

Ensure that Shopify Payments is activated and that the desired currencies are supported and properly configured in your settings.

Are there any apps that support currency conversion at checkout?

Yes, apps like MyShopKit’s Multi-Currency Converter can handle currency conversion at checkout, although implementing such solutions may require additional integration steps.

What should I do if my preferred payment gateway doesn't support multi-currency?

Consider using currency converter apps or custom scripts. Additionally, clearly communicate the currency your customers will be billed in at checkout to avoid confusion.

By implementing these strategies, you can successfully manage multiple currencies on your Shopify store, providing a more inclusive and satisfying shopping experience for your global customers.