In the global economy we live in, it is becoming ever more popular for companies to expand their products and services for use all over the world. While this opens new avenues for business, it also comes with complications, one of those being the fact that there are different currencies the world over, and typical merchant accounts only service the business’s home currency. International customers are not likely to take the time to convert currency before the purchase of your product; they will simply move onto a competitor who simplifies the process. Fortunately, with a multi-currency merchant account, any business can keep up with the competitors in this aspect.
Axcess Merchant Services understands this dilemma, which is why they have introduced a very compatible multi-currency merchant account that is easy to set up and use. So, in the event that a customer in Guatemala wishes to purchase a product from a merchant in the United States, this service allows the customer to pay in quetzals and the merchant to automatically receive an accurately converted dollar amount. In our global economy, it is nearly impossible for merchants to survive without this technology, especially in online endeavors.
Fraud protection is most definitely a concern, especially when dealing with finances on such a large scale. With multi-currency merchant account systems, this is certainly taken into consideration. They will prompt the customer to enter not just the account number, but also the expiration date on their credit card and the three-digit CVV code listed on the back. Some systems even ask for the billing address for further verification. There are, of course, a tiny percentage of fraudulent sales that make it through this thorough examination, as nothing is perfect, but you can rest assured knowing that the best of technology is at work verifying the authenticity of transactions made with your multi-currency merchant account.
Multi-Currency Merchant Service Worth Its Price?
Nothing in life is free, and that goes for your multi-currency merchant account. Prices vary depending on how complex you need the system to be. Fees and pricing tend to increase with the more currencies to be accepted and converted. Axcess Merchant Services has fair and competitive prices available and are worth considering while shopping for a merchant account.
It is very important in this day and age to keep up with the latest technology, as it helps your business to grow in this new, global economy. While a mom and pap store can survive, they will not thrive, and no business owner wants to deprive themselves from the optimal growth of their enterprise. Having a dependable multi-currency merchant account is crucial in attaining such a goal.