Multi currency credit card processor

[madrilian]

I run a website where 99% of my customers are from abroad.

The services I sell are usually priced in the currency of my customer, as I have specific services depending on the coutry where the customer comes from.

I have been using Worldpay for 10 years now, but I am really fed up with them.

They charge 3% for processing which is good, but they also put around 4% on hidden forex comissions, which I find abusive.

Since 99% of transactions are in foreing currencies, I am paying over 7% for processing.


Does anyone know of a good credit card processor that can help me reduce the 7.x% that I actually pay ?

It is mandatory they allow for uncommon currencies as Philippinian peso, Mexican, Argentinian, etc and not just the most common currencies.

It is also required they allow to have payment pages in foreign languages.

 

[PayPoint net]

Hi

It's definitely worth shopping around, given your extensive online trading history as various banks / payments providers will offer different conversion rates on each currency. Your 10 years of trading should help you to negotiate favourable rates.

It would be great to hear more about your business as we provide multi-currency merchant accounts for many online businesses. We would be happy to discuss your payment requirements and provide a quote for your business.

If you are interesting in talking to our payments team please PM me your contact details or you can reach us on 0800 810 0136.

Best of luck
Siobhan

 

[andygambles]

Have you looked at PayPal. Foreign currency fees can be as little as 0.5%.

 

[madrilian]

Paypal can only handle a very reduced set of currencies, and although their list of currencies has been extended recently, still does not cover my needs.

I trade with companies in countries such as Argentina, Peru, Colombia, Philippines, Malaysia, and I offer them my services priced in their currency. This is important to improve customer confidence and make them see my site as something more "local".


Paypal charges a "cross border fee" up to 1.5%, plus a currency conversion fee of 2.5%. That's already 4% in total. Plus transactions fees. It's not competitive at all for foreign currency trade.

I don't know if they would have better rates for their "websites payment PRO" product, as they no longer show the rates in their website.

I remind you guys that 4% can almost be considered tourist rates. That is, a tourist changing physical money, a few hundred pounds, in M&S or the Post Office, is getting a better rate than I am getting changing a turnover of around £600K/year on electronic transactions. It's just plain ridiculous. They are ripping me off big time.

 

[madrilian]

It would be great to hear more about your business as we provide multi-currency merchant accounts for many online businesses

What's currency conversion fee can you offer ?

 

[brthlmew05]

I trade with companies in many countries such as Argentina, Peru, Colombia, Philippines, Malaysia.