Gateways and multi-currency
Hi,
Do you have plans for supporting additional gateways and currencies in the future? (6-12 months)
Thanks
Thibaut
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Support Staff 1 Posted by Marc Guyer on 31 Mar, 2010 04:04 PM
We are supporting multiple gateways at this time in multiple currencies. We have a preferred path for merchants based outside the US. I can provide you with pricing and a merchant application at your request.
2 Posted by Thibaut Couroub... on 31 Mar, 2010 04:19 PM
Where can I find a list of your supported gateways?
We would need multi-currency support at the product level, not at gateway level (I don't see where I can choose a currency for my product).
Support Staff 3 Posted by Marc Guyer on 31 Mar, 2010 05:33 PM
Currently there is only one that will support a non-US merchant. It is the Network Merchants http://nmi.com system. We have arranged to provide this service at a competitive price. The gateway is full featured and fully compatible with CheddarGetter.
Support Staff 4 Posted by Marc Guyer on 31 Mar, 2010 05:37 PM
Only the authorize.net gateway is available for you to select in the admin GUI because the NMI support has not been fully released. We are releasing it to all customers early next week.
I'm curious about your currency needs. Payments can only be settled in one currency (any you choose). You may, however, display pricing for your service in multiple currencies using current exchange rates so that your customers have a general idea of the cost of your service in their native currency.
5 Posted by Thibaut Couroub... on 05 Apr, 2010 09:29 AM
Our currency needs are simple, we want to be able to charge our users in their native currency. We would basically have an option for each account to choose the currency in which we should charge them (with our own exchange rate).
It's very hard to get businesses to pay you in a foreign currency because then they can't predict how much the service is going to cost them each month or year. With the exchange rates changing everyday the service could end up costing them much more than they anticipated.
Support Staff 6 Posted by Marc Guyer on 05 Apr, 2010 01:51 PM
It may be possible to charge customers in multiple currencies via our gateway provider but CG does not currently support it. I have sent a few emails to some key individuals about this type of service. If this is possible, we may be able to support it if you are willing to be the beta tester.
I do not recommend this technique, however, since you will be taking on the risk of exchange rate changes and significant increased complexity.
7 Posted by Karl on 28 Oct, 2010 07:44 PM
I too, want to charge customers in multiple currencies. (Dollar / Pound / Euro) for exactly the same reason as Thibaut. Did your investigations into this go any further?
I'm aware of the exposure to exchange rate risk, however this same risk is what prevents companies for signing up to services that are not in their native currency.
Could you also please let me know what you meant by increased complexity? I would understand this if I wanted to hold balances in all three currencies for which I take payment, but if I'm happy to accept the exchange conversion at time of settlement, then the complexity is the same no?
Thanks!
Karl
Support Staff 8 Posted by Marc Guyer on 28 Oct, 2010 08:10 PM
Hi Karl --
The CheddarGateway supports multiple currencies. You must arrange with your merchant account provider (which must be compatible with CheddarGateway) to transact in the currencies you wish to support.
We have a spec for CheddarGetter itself to support multiple currencies but it is not developed completely as we have not engaged a merchant willing to be the first implementation. The spec includes configuring existing pricing plans with multiple currencies. Then, when creating a new customer, you provide the currency code as well as the rest of the customer information. The gateway then passes the currency through to the merchant account provider where the currency exchange occurs.
Exchange rate risk is somewhat minimized by your ability to change the prices at any time. You may choose to keep existing customers on their current pricing but require new customers to signup for new pricing (presumably adjusted for new exchange rates).
9 Posted by Karl on 28 Oct, 2010 08:23 PM
Hi Marc, thanks again for your amazingly speedy responses. As you can see, I'm wading through the forum before starting a new discussion!
So it sounds like multi-currency products are possible, but it's dependent on the merchant. Guess I'll just have to try and find a merchant from the list you provided here: http://support.cheddargetter.com/discussions/questions/356-support-...
Incidentally I've come across these guys a number of times as a reliable merchant+gateway: http://www.securetrading.com
How can I know which merchant account providers are compatible with CheddarGateway?
Thanks again!
Karl
Incidentally
http://www.securetrading.com/index.php
Support Staff 10 Posted by Marc Guyer on 28 Oct, 2010 08:27 PM
The list you referenced is the master list of supported platforms on the CheddarGateway.
11 Posted by Karl on 23 Dec, 2010 04:58 PM
Hi Marc,
Just a quick clarification point, you wrote:
Can you just clarify whether by merchant you meant merchant account provider, or rather a client of CG, in effect a merchant working with you?
Support Staff 12 Posted by Marc Guyer on 23 Dec, 2010 05:07 PM
A client of CG, a merchant. Not a merchant account provider. However, the merchant services provider must support multiple currency as well.
13 Posted by Karl on 23 Dec, 2010 05:56 PM
Excellent. Thought so but was just double checking.
What if I'm happy to settle in one currency (in my case pounds), but want to charge in multiple currencies? Does the merchant services provider still have to support multiple currencies, or can the exchange happen at time of purchase?
Thanks and Merry Christmas!
Karl
Support Staff 14 Posted by Marc Guyer on 23 Dec, 2010 09:08 PM
The merchant service provider has to support multiple currencies.
We're talking about recurring billing here, so your customers are going to want to know what their fee is going to be each month and not be dependent the exchange rate at billing time. To bill in multiple currencies at a consistent rate, the service provider must support multiple currencies -- that is where the conversion happens.
Merry Christmas to you!
15 Posted by Saar Kagan on 25 Dec, 2010 03:37 PM
Hello,
I've been following this conversation and I still don't understand a basic question:
What currencies does CG support?
Specifically, I am looking for ILS support but I'm sure a list of all supported currencies would be greatly helpful to everyone (or anyone else who will read this thread).
Thanks,
Saar...
Support Staff 16 Posted by Marc Guyer on 26 Dec, 2010 08:48 PM
Hi Saar -- CG (and CheddarGateway) supports any currency. The currency support requirement really lies with the processing platform. Processing platforms which are compatible with CheddarGateway and ILS are CreditGuard and Wirecard.
17 Posted by Saar Kagan on 27 Dec, 2010 12:39 AM
Hi Marc -- Thanks for the response.
So I need a billing manager, a gateway, a processing platform, a merchant something or other....
Is there something that outlines all these elements and how they all fit together? Also, which of these does CG fulfill and which will I have to bring on my own? Finally, what are the costs involved at each step along the way? Wouldn't I be better off just going with an "all-in-one" solution such as PayPal?
Saar...
Dean closed this discussion on 16 Jan, 2013 03:43 PM.