Multi Currency Solutions for Shopify Stores Without Payments

In today’s global e-commerce landscape, offering multiple currencies can significantly boost your international sales. However, for Shopify merchants in countries where Shopify Payments isn’t available, this can present a challenge. This article explores the options available for multi-currency sales on Shopify and provides insights into potential future developments.

Understanding the Multi-Currency Challenge

The Importance of Multi-Currency Options

In an increasingly interconnected world, offering customers the ability to shop in their local currency is crucial. It enhances user experience, builds trust, and can lead to higher conversion rates. However, for Shopify merchants in certain countries, this functionality isn’t readily available.

The Shopify Payments Limitation

Shopify Payments, the platform’s native payment solution, offers seamless multi-currency support. Unfortunately, it’s not available in all countries, leaving some merchants searching for alternatives.

The Impact on International Sales

Without multi-currency options, merchants may struggle to expand their customer base globally. Customers often hesitate to purchase when prices are displayed in unfamiliar currencies, leading to abandoned carts and lost sales.

Current Solutions for Multi-Currency Sales

Currency Converter Apps

While not a perfect solution, currency converter apps can help display prices in multiple currencies. Two popular options include:

BEST Currency Converter
MLV: Auto Currency Switcher

These apps can help customers see prices in their local currency, but they don’t solve the issue of checkout in multiple currencies.

Multiple Shopify Stores

Some merchants opt to create separate stores for different currencies. While this approach can work, it comes with significant drawbacks:

Increased costs due to multiple Shopify plans and app subscriptions
Complexity in managing orders across multiple stores
Potential SEO implications of having multiple domains

Third-Party Payment Gateways

Some payment gateways, like Stripe, offer multi-currency support. However, Shopify’s current limitations prevent full integration of these features at checkout.

The Shopify Markets Feature

What is Shopify Markets?

Shopify Markets is a newer feature designed to help merchants sell internationally. It offers various tools for managing multiple markets, including currency conversion.

Limitations of Shopify Markets

While Shopify Markets is available globally, some features, including multi-currency checkout and local payment methods, are only available to merchants using Shopify Payments.

Future Potential

Shopify continues to develop and expand Markets, potentially offering more features to merchants in countries without Shopify Payments in the future.

Challenges with Current Solutions

Dynamic Currency Conversion Issues

Some merchants have reported issues with dynamic currency conversion when using Shopify Markets. This can lead to unexpected fees for customers and potential trust issues.

Limited Options for Non-Shopify Payments Countries

Merchants in countries without Shopify Payments often feel limited in their ability to offer a smooth, multi-currency experience to their customers.

Complexity of Managing Multiple Stores

For those who choose to run multiple stores for different currencies, the increased management complexity and costs can be significant hurdles.

Looking to the Future

Potential Expansion of Shopify Payments

Shopify is continually exploring opportunities to expand Shopify Payments to new countries. While there’s no guaranteed timeline, it’s an area of ongoing development.

Feedback and Feature Requests

Shopify actively encourages merchant feedback. Many users have requested improved multi-currency support for countries without Shopify Payments, which may influence future development priorities.

Evolving E-Commerce Landscape

As global e-commerce continues to grow, it’s likely that Shopify and other platforms will continue to develop solutions for international selling, including improved multi-currency support.

Best Practices for International Selling on Shopify

Leverage Available Tools

Make the most of currency converter apps and other available tools to improve the shopping experience for international customers.

Clear Communication

Be transparent about currency conversion and any potential fees to build trust with your customers.

Stay Informed

Keep up to date with Shopify’s latest features and updates, as new solutions may become available over time.

By understanding the current limitations and exploring available options, Shopify merchants can work towards offering a better multi-currency experience for their customers, even without access to Shopify Payments. As the e-commerce landscape continues to evolve, it’s likely that more comprehensive solutions will emerge, enabling truly global selling for all Shopify merchants.