The internet has a great amount of appeal to businesses as it allows them to sell their products and services to potential customers throughout the world. As there has been such rapid growth in internet usage, many companies have decided to include an online payment gateway using a merchant account on their website so that new customers can purchase products via the website and thereby increase sales. As credit card is one of the most popular ways to purchase online for customers in the USA and Europe, it is important for companies with a merchant account to use a reliable, secure and user-friendly international credit card payment gateway so that their clients have a quick and enjoyable buying experience.
Pricing is an important part of any company’s online marketing strategy. PayGate’s PayFX currency conversion service (used along with the PayWeb credit card payment processing service) allows merchants to price items and services on their website in any currency, even if their internet merchant account at their bank can only handle one currency. This is particularly relevant for merchant accounts in South Africa as due to banking regulations transactions can only be processed and settled in Rand. PayFX allows the merchant to price in currencies that their prospective customers are most familiar with. When a payment is made, the transaction currency in converted by PayFX to the merchant account processing currency using the most up to date, accurate exchange rate. This converted amount is displayed to the cardholder on the PayWeb page along with the exchange rate used in accordance with banking standards. When the transaction is processed it is processed in the merchant account processing currency and settled accordingly.
For companies in the tourism and travel industries such as travel agencies, B&B’s and hotels as well as airlines, PayFX offers a user friendly way to price in currencies your prospective customers are used to without the expense of opening internet merchant accounts in every currency you want to accept. PayFX in conjunction with PayWeb offers a secure, cost effective and reliable credit card processing service that caters for accurate currency conversion in a user-friendly way.
