Looking for billing solution for our web app
We are based in Canada and will launch our web app soon.
If I get both of cheddargetter and cheddargateway, are these only
we need to
start selling our products in both us and canada?( I was hoping
cheddargateway supports
both us/canadian dollar.
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Support Staff 1 Posted by Marc Guyer on 08 Apr, 2011 01:04 PM
This is a complex question. Yes, CheddarGateway supports multiple currencies. The trick is with the processing platform. If you really want to accept payment natively in different currencies, then the processing platform (your merchant account) will need to accept multiple currencies and perform the currency conversion before depositing into your account. That is all very tricky and expensive. I recommend only getting into that if you're doing significant volume.
The easy way is to charge in a single currency. If the customer lives in Mexico, for example, and you charge in USD, the payment will be converted from MXN to USD by the customer's bank. The charge will appear on the customer's bank statement in MXN but the deposit will be in USD in your account. The amount in MXN will change with exchange rates as the amount in USD remains the same.
Does any of that make sense?
2 Posted by Shinya on 08 Apr, 2011 05:25 PM
Oh, so we still need a merchant account or CheddarGateway can be both of gateway and merchant?
About the currency, I think it's safe to say we only accept customer only us and canada.
So you are suggesting to charge in US dollar, right?
Do we need a USD account to do that?
Sorry for me there are still a lot of gray area with this stuff.
Support Staff 3 Posted by Marc Guyer on 11 Apr, 2011 04:10 PM
CheddarGateway connects CheddarGetter to your merchant account.
Yes.
Dean closed this discussion on 16 Jan, 2013 04:26 PM.