Allowing customers to select their preferred currency and payment method at checkout can simplify international payments, making the process quicker, cheaper, more convenient, and transparent. When prices are displayed in the local currency during the checkout process, it can enhance the booking experience, reducing shopping cart abandonment rates, improving conversion and ultimately increasing sales!
This feature is enabled for trips priced in USD, EUR, and GBP currencies, with more currencies to come. If you choose to price your trip in any of these currencies, your customers can select one of the three currencies to complete their payment while you always get the amount you set for the trip.
Less fees thanks to local payment methods
By providing payments in the user's local currency, you can massively reduce the payment fees both for you and your customer.
Example - European customer paying for a trip quoted in USD
Previously, this customer was only able to pay with their European credit card. This meant high card processing fees for you, but also on average an additional 2-3% exchange rate fee charged to your customer by their bank or credit card company.
Now, this European customer can pay in EUR with local payment methods like SEPA, BACS or iDEAL, which have zero payment processing fees for you on WeTravel. This avoids all card fees for you. It also avoids additional exchange rate fees charged to your customer by their bank or credit card company.
What it looks like to your customers
During the checkout process, customers can select their preferred currency for payment. For example, if the trip is in USD, customers can pay in USD, GBP, or EUR currencies. They will be able to make payments using the payment method that is available for the specific currency they are using. To learn more about the payment methods accepted on WeTravel for different currencies, please click here.
If your customers want to pay in EUR for a USD trip, we will display the due amount in EUR using market-leading exchange rates.
Based on the pricing structure you set up in your trip builder, we will show the fees and charge them at checkout. Initially, we will subtract the payment method fee from the original trip currency, and then convert the final amount to EUR, your customer's preferred currency.
Example: If the customer pays in EUR by card for a trip quoted in USD, we will charge a 1.4% EUR card fee. Click here to learn more about the fees associated with the different payment methods.
The payment receipt emails will display the "Amount Paid" in the customer's preferred currency along with the payment method used for the transaction:
What changes for me?
As the trip organizer, there are no significant changes. You will still see all payments in the trip currency. The reporting and collected amounts shown on the trip dashboard are also displayed in the trip currency.
There are also no changes to the Excel Downloads, Zapier or API integrations. This means that you can keep track of all financial transactions in the original currency for easy reference.
Frequently asked questions:
In what currency do I receive payments?
You will always receive the payment in the trip currency you indicated. If a trip is in USD, but the customer pays in EUR, we will automatically convert the EUR to USD and deposit USD in your WeTravel balance. We do at market leading exchange rates that are better than most commercial banks.
Is this feature available to both Basic and Pro plan users?
Yes, our multi currency checkout feature is available to everyone!
Is this feature available for all currencies in the trip builder?
Multi-currency checkout is currently available for USD, EUR, and GBP. If you require this feature for other currencies, please contact us at info@wetravel.com to share your feedback.
Which currency will be displayed to my customers first when they make a booking?
We will automatically show the currency based on your customer's location. If your customer is based in the UK, the checkout flow will display GBP as the default currency. For customers located in Europe, the default currency will be EUR, and for those in the US, it will be USD. If your customers are located in any other part of the world, we will display the trip's currency as the default one. Your customers can still select one of the three currencies to complete their payment.
Is this feature available to Stripe Standard users?
Currently, the multi-currency checkout only works with WeTravel payment processing. If you have your own Stripe Standard account set up to receive funds, the multi-currency checkout won't be offered to your customers.
How are refunds handled when using multi-currency checkout?
We will refund the original amount paid by the customer, and any differences due to exchange rate fluctuations will be absorbed by WeTravel. This means that you have zero exchange rate risk, even for refunds.
What if the exchange rate changes after the booking?
WeTravel handles all exchange rate issues for you. Any installment payment after the booking is always processed and charge at the exchange rate of that day. This guarantees that you will always receive the exact amount you indicated when setting up the trip.
If you have to refund the client at a later date, we guarantee that your client receives a full refund of the amount they paid in their currency, no matter if the exchange rate changed or not.
How will the auto-billing feature work for payment plans when multi-currency checkout is enabled?
When a customer chooses a currency during checkout, that currency will be saved and charged for future transactions. For instance, if your customer paid for a USD trip in EUR, the EUR payment method will be charged at the exchange rate on the date of the payment. If the customer uses a new payment method to pay an installment, this new payment method will become the default for subsequent payments in that currency.
Will multi-currency checkout be available when using Add Participant, Add Payment or Add Option as a trip organizer?
Multi-currency checkout is currently only available during checkout, for auto-billing and when the customer pays installments in their dashboard. You can only add payments and options in the original trip currency on behalf of your customers, but support for this will be added soon.
Can my customers offset carbon during the multi-currency checkout process?
Not currently. At checkout, we will hide the carbon offset feature if the customer chooses a currency different from the one set up for the trip.
Is multi-currency checkout available for contributions?
Yes. Contributors can select to pay in USD, EUR, or GBP if the trip is priced in any of these currencies:
