Do you want to add more than one currency for your e-Commerce site prepared with WooCommerce infrastructure?
As an online store owner, you want to grow your customer base. One way to do this is to start selling globally. In fact, almost 93% of online retailers accept international payments and offer international trade. For this you need to set up your online store in WooCommerce to accept multiple currencies.
In this guide, we will show you how to accept multiple currencies in your WooCommerce store. We will also review the benefits and options available to you when multi-currency is enabled in WooCommerce.
Basic WooCommerce Currency Features
WooCommerce comes with a built-in payment processing system right out of the box. This allows store owners to process payments via PayPal, Stripe, wire transfer and check . It also makes it easy to update products and manage orders.
You can also upload as many products as you want to your store with product photos . Once you’ve done that, you can categorize your products and enable ratings and feedback to generate engagement.
Since WooCommerce is a WordPress plugin, you can be sure that your store will be SEO optimized from the start. In addition, it supports a wide variety of plugins and extensions that allow you to extend the core functionality.
Enabling Multiple Currency Options in WooCommerce
To sell products globally or in different currencies, you need to enable multi-currency options in WooCommerce. This means you need a way to display the price the customer should pay in their preferred currency.
For example, if a customer knows about British Pounds (£), they will see the product price in British Pounds (£) and not in the standard USD ($) currency.
You also don’t want customers to calculate their own exchange rate, fees, and taxes when shopping at an international e-commerce store. This can lead to an increase in abandoned carts and bounce rates. By displaying the product price after calculating the exchange rate, you will be able to improve the shopping experience for international customers in your WooCommerce store.
The only problem is that by default WooCommerce only allows you to offer one base currency at a time in your online store. However, WordPress and WooCommerce are extensible. This means that you are not limited to the currency of the country in which you operate.
Benefits of Using Multiple Currency in WooCommerce
Offering multiple currency options for all products in your WooCommerce store is a great way to improve the shopping experience for any type of customer. International shoppers will feel right at home by browsing your products and adding them to their shopping cart, without having to calculate exchange rates, fees and taxes.
This is also a great way to present your WooCommerce products to all types of customers in their preferred currency. You can show customers the currency associated with them based on their country.
Options Available for Multiple Currency
Using the multi-currency switcher, you can view the currencies according to the country of the shoppers.
It is also important to show customers the correct price formats to avoid confusion between similar currency symbols. For example, Canadian customers might associate the “$” sign as their local Canadian dollar currency, while US shoppers might think prices are in US dollars.
In addition, using multi-currency, you can show customers the correct exchange rate, which automatically updates the prices of all WooCommerce products in your online store. No need to worry about manually updating the prices yourself.
Accepting Multiple Currencies in WooCommerce
With multi-currency enabled in WooCommerce, when a customer adds an item to their cart, they will see the price of the item in their own currency.
The exchange rate is then applied and the correct price is calculated instantly. After that, customers can pay in their preferred currency because the converted prices are applied at checkout.
Use Payment Gateways by Currency or Country
You can view payment gateways by currency or country in your WooCommerce store. This means you can offer payment gateways based on the currency your customers are familiar with or their country of residence.
Customers are generally more familiar with their local payment processors. Offering them a local payment gateway makes it easier and more convenient for them to purchase from your WooCommerce. In addition, it helps you grow your customer base by encouraging more people to shop from your WooCommerce store.
You can offer payment gateways by currency or country in your e-commerce store using plugins:
- Payment Gateway Currency for WooCommerce . This is a free WordPress plugin that allows you to manage currencies for payment gateways. You can use it to convert currencies or restrict currencies.
- Payment Gateway Currency for WooCommerce . This plugin allows you to convert or restrict currencies for custom gateways as well as selected payment gateways that come with WooCommerce.
- Payment Gateways by Customer Location for WooCommerce . Another free plugin that lets you restrict payment gateways based on end user’s location.
- WooCommerce Payment Gateways with Currency . WooCommerce Payment Gateways by Currency lets you control which payment gateways are available for different currencies. You can add preferred currencies to default WooCommerce payment gateways and custom payment gateways you add to your store.
- WooCommerce Payment Gateways by Country or State . WooCommerce Payment Gateways by Country or State allows you to offer payment methods by country or state where customers are located. You can set countries or states for each payment gateway available in your WooCommerce store.
View Prices in Local Currency
Showing customers WooCommerce product prices in their own currency is a great way to sell to shoppers around the world. It can also help reduce cart abandonment in your WooCommerce store.
For example, if a customer needs to find and calculate how much they should pay for the order, they are more likely to leave their cart empty. In addition, most international customers will hesitate to browse your WooCommerce products if prices are not in their local currency.
You can show customers prices in their own currency using the WooCommerce Prices and Currencies by Country module . After installing the module and making it ready to use, you need to create country groups by identifying each country using comma separated country codes.
Set Exchange Rates
If you use different currencies to display product prices in your store, you may want to set exchange rates in WooCommerce. This includes deciding how to update the exchange rates and choosing the server for the exchange rate.
This ensures that the exchange rate is correct and that customers are not paying more or less than the actual “converted” price.
Using the WooCommerce Currency Converter module, you can set exchange rates for all currency pairs used on your WooCommerce site. You can set the time interval between exchange rate updates, change the exchange rate server, and enable exchange rate rounding.
It also allows you to add custom currency options to WooCommerce and easily set exchange rates for them.
What Else Can You Do To Accept Multiple Currencies?
Let’s take a look at other ways to accept multiple currencies in WooCommerce.
Multiple Currency Exchanger
If you’re going to use different currencies in your WooCommerce store, consider using a multi-currency switcher. In this way, customers can select their preferred currency from a single product page before adding the product to their cart.
It can help attract new site visitors and encourage all types of customers to buy from your WooCommerce store. This is a great way to increase sales and improve the shopping experience in your e-commerce store.
Some free multi-currency exchangers for WooCommerce:
- SpringCurrency . It adds a currency switcher widget to product pages, allowing customers to choose the currency they want to see from the frontend.
- Pcurrency Converter Widget . This plugin allows you to add a currency switcher widget to the sidebar that customers can use to display product prices in their preferred currency.
- WooCommerce Product Price Based on Countries . This plugin automatically detects the customer’s country via geolocation and displays the currency and price you specify for that country.
Another popular option is YITH Multi-Currency Switcher for WooCommerce . Allows you to activate the multi-currency system in your store. This allows customers to view and pay for products in their local currency instead of the default currency.
Store owners can use it to add unlimited currencies and display a currency changer anywhere in their store. It also gives you the option to geo-locate users to automatically show prices in their home country’s currency.
Price Formats
Changing the WooCommerce default price format allows you to display the correct format for prices in different currencies available on your eCommerce store.
This is useful for serving any type of currency in your WooCommerce store. For example, it is correct to display the US dollar with two decimal places, but you cannot use the same price format for the Japanese Yen. Instead, you may want to remove the two decimal places and display a different format for prices in Japanese Yen.
You can set price formats in WooCommerce using Booster Plus WooCommerce Price Formats module.
Add Custom Currencies
If you can’t find your preferred currency in the default WooCommerce settings, you need to add more currencies to your store.
This can be a great way to enhance the shopping experience in your WooCommerce store and also make it easier to get paid in your preferred currency.
You can also use Custom Currency for WooCommerce plugin to change the currency symbol and position used in your store . This plugin also lets you add a new custom currency type. It’s incredibly easy to get started and perfect for anyone looking to add a currency option to their store.
Accepting multiple currencies in WooCommerce is essential to appealing to a global customer base. Shoppers from all over the world can browse your WooCommerce products, add items to their carts, and pay in their preferred currency.
