We have an online platform where we sell our product and we use Paypal to handle payments. Our customers are shown the amount they need to pay in Lek. Since our home currency, Albanian Lek, is not supported in Paypal, we convert the order price in Euro and we pass that to PayPal on checkout.
When checking out, PayPal converts the amount from Euro back to Lek, using their own conversion rates, which charges the customer a higher amount that the one they were shown in the beginning.
We want to be transparent with our customers and we don't want to show them a different amount to be paid when they checkout.
How can we get around this? Our options are:
Get PayPal's conversion rates, do a reverse calculation ourselves and display the right price to the customer.
Have the user pay the exact amount they were told in the beginning and we pay the conversion cost.
Any other ideas than the ones mentioned?
If you have a PayPal account manager, you can ask them about presentment currencies.
Assuming you do not have such a PayPal business contact (most do not), the best solution is to simply display actual EUR prices on your site. An approximate LEK conversion can be shown alongside, if you must, but the EUR price is what will be used for the actual PayPal transaction.
The payer will only see a conversion from some local currency to EUR if they are using a funding source denominated in that local currency.. This conversion happens prior to the EUR payment being made, which again is the actual PayPal transaction between that payer and the receiver account; any conversion from LEK (or other local currency) to EUR is happening before the actual PayPal transaction in EUR
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We are a canadian company and wants to sell products in India in INR, but when we transfer the price to PayPal PG, the value has to be shared in USD and PayPal charges the customer hefty on conversion increasing cost.
how can we either:
1) Absorb the conversion cost and charge customer the exact amount OR
2) Get PayPal conversion rate+commission and do reverse calculation to display the prices accordingly.
We tried various codes and all in vain
I'm confused with paypal documentation... I've setup recurring profiles for my application with express checkout... I want to only accept pyments in euros and dollars and if a buyer have a different currency , he must pay in one those two(and then I get the amount converted in the one he selected)
I configured my andbox account to accept eur and dollars and my code with express checkout I put EUR for euro and USD for dollar in currencycode...
But I don't understand this link
https://www.paypal.com/us/cgi-bin/webscr?cmd=p/sell/mc/mc_receive-outside
I thought that with my configuration payments will be automatically converted in USD or EUR because I don't let them chosing
for an example if a canadian chooses euros, I think that in his cart when he is logged the amount will be converted in euro and I'll get the amount in euro so I don't have to add canadian currency in currency I hold... Am I wrong or right???
If someone is paying you via express checkout then presumably you are sending the cart information to PayPal as part of the EC transaction flow. In this case you ALWAYS receive the payment in the currency you specify in the cart, regardless of any other factors. If buyers wish to pay using other currencies they will be converted to the currency of the cart.
The profile currency settings are really only relevant to situations where people can make open-ended payments to you of their own volition and definition. Or, these settings can also allow you to set up conditions where you let carts be defined in multiple currencies (e.g. maybe you have an EUR price, a USD price, and a GBP price), so the customer could buy goods with transactions denominated in any of these currencies, but you have PayPal automatically convert all the GBP transactions into EUR for you as they are deposited in your account balance.
I m planning to integrate micropayment in my ASP.NET website. I need to use PayPal to achieve this.
The cost of the service I deliver is low, about $1 per month. I'd like to know more about PayPal service for this kind of cheap transactions.
How much does PayPal hold for each $1 payment ? I found this explaining the PayPal conditions for micropayment. Any feedback on this ?
Plus, how does PayPal handle currency conversion ? My service is worldwide, so I want my users to be able to buy my product not only using dollars, but euros or another currency.
Thanks
In the link you quoted the fees section is expandable and you can see the Micropayments pricing:
5% + $0.05
Signing up for it doesn't require any vetting or contract changes. Contact Customer Service and they file a request to a team that enables Micropayments. Should be done within a few days.
Currency conversion and cross-border transacitons are also in this page:
International Sales: The pricing table above applies to domestic payments in US dollars. There's an additional 2.5% charge for any currency conversion and a 1% charge to receive payments from another country.
If you decide to charge your buyers in USD only, they will be able to choose if they wish he card issuer or PayPal to convert the money. Most won't even notice the conversion took place and it will make your reconciliation much easier.
Can I use PayPal as currency conversion.
I run a global site, and am introducing multiple currency - USD, GBP, EUR, AUD, YEN.
When a user selects their selected currency I need the prices to reflect the conversion across our web and mobile platform
You can use PayPal to charge buyers in all these currencies, but unfortunately you cannot use PayPal for all your currency conversion and display the prices on your site.
However, if you're selling in GBP and your buyer's funding sources are in EUR, we will of course automatically convert these.
Note; our Adaptive Payments product does offer a 'CurrencyConversion' API call, but this API call is not intended for on-the-fly calculation for your product listings.
On our site user can make paypal donations to other users in different currencies, but we want to hold payment statistics in USD, is there any way to get in the paypal IPN payment gross, automaticly converted to US Dollars?
you achieve this by getting the gross in that currency and then multiplying it by the current USD rate. you can not get it in IPN because it sends variable only relating to your transaction. you need to do it manually when variables are received.
curent currency rates can be get by PayPal Api for currency conversion, here is link to documentation:
PayPal Currency Conversion API
Hope this helps.