Localize pricing and payment methods
Optimizing payment success rates and conversion involves removing friction from checkout by aligning payment options with shopper preferences and expectations.
Local currency presentation
Shoppers are significantly more likely to complete purchases when prices are displayed in familiar currencies. Currency conversion uncertainty creates hesitation at checkout, and many shoppers abandon carts when forced to estimate exchange rates themselves.
Local currency pricing also unlocks access to region-specific payment methods, many of which only support specific currencies. For example, iDEAL requires EUR, while Alipay CN requires CNY or AUD in Australian markets.
Airwallex offers two currency conversion approaches based on integration type:
- Automatic Currency Conversion: Enabled via web app settings; automatic at checkout.
- Multi-Currency Pricing API: Programmatic quote creation and application.
Both approaches include the conversion fee (typically 2-4%) in displayed prices, so shoppers see final amounts without surprises. Airwallex settles merchants in the original payment currency when configured as a settlement currency. If the original currency isn’t a configured settlement currency, settlement uses your default settlement currency with conversion fees. See Settlements.
Region-specific payment methods
In many markets, cards are not the dominant payment method. Offering locally preferred methods is essential for conversion:
- APAC: Alipay, WeChat Pay, GrabPay, FPX (Malaysia), PayNow (Singapore)
- Europe: iDEAL (Netherlands), Klarna, Bancontact (Belgium)
- Global: Apple Pay, Google Pay, Airi, PayPal, bank transfers, buy-now-pay-later options
Shoppers perceive local payment methods as safer and more trustworthy than international card brands. Payment method preference varies significantly by country, age group, and purchase type.
One-click payment methods
Wallets (Apple Pay, Google Pay, PayPal) reduce checkout friction by eliminating manual data entry. Shoppers authenticate using biometrics rather than typing card numbers, expiry dates, and CVV codes. This reduces payment failures caused by incorrect data entry and speeds checkout completion.
Wallets also auto-fill billing and shipping addresses, further reducing form abandonment. Shoppers trust these familiar payment brands, which increases confidence in merchant checkouts.
Airi, Airwallex's own one-click checkout, brings the same friction reduction to card payments. Shoppers save their card details once and pay with a single click at any participating Airwallex merchant, instead of re-entering them on each new site. Airi recognizes returning shoppers automatically and checks them out instantly, while first-time shoppers sign up once by verifying their email and mobile number. Because Airi shares its shopper base across every merchant that enables it, even a first-time visitor to your store might already have an Airi account and can check out in one click. This gives you access to a growing base of shoppers who convert faster and are less likely to abandon their carts.