Automatic Currency Conversion
Improve checkout success by allowing your customers to pay in their local currency and preferred payment method
Increase sales from your customers through Airwallex’s automatic currency conversion feature by stopping prospective customers from abandoning your checkout when they are unable to pay with their preferred payment methods that often require a local currency.
If you are using Airwallex’s hosted payment pages, payment links or Shopify, you can enable this feature via the Airwallex web app to allow Airwallex to automatically convert your price to your customer's local currency and display their preferred payment methods for payments.
What your customers will see
When your customers land on the checkout page, Airwallex will use the location you specified or the one we detected to display the payment priced in the customers’ local currency and the corresponding local payment methods by default. Your customers can switch to another currency or back to the original currency set by merchants.
Prices will not change for customers during the checkout session validity of 30 minutes. The exchange rate used to convert pricing for customers includes a margin to guarantee the rate. Your customer's bank may charge additional fees and you may want to disclose this to your customers.
Supported merchant regions and payments
This feature is available for businesses registered with Airwallex in Hong Kong, Singapore, Australia, UK, and Europe.
Payments submitted in AUD, CAD, CHF, EUR, GBP, HKD, SGD, USD will be eligible for automatic currency conversion and the settlement will be in your default settlement currency.
Automatic currency conversion will only apply for one-time payments and will exclude the following use cases:
- Subscriptions
- Payments using multi-currency pricing
- Manual capture payments
- Payments for platform model
Supported customer regions and currencies
We support the local currencies and payment methods for 20+ currencies and 40+ regions.
Merchant experience
Integration
Enable or disable this feature via the Settings tab in the Payments section of the web app. If you disable this feature, future checkout sessions will no longer display localised currencies and payment methods for your customers. This change may take a few minutes to go into effect, and any payments initiated prior to disablement will not be affected by the action.
When using this feature, the payment intent currency and amount will get updated to what your customer selected. This will mean that the payment intent currency and amount will change from what you originally submitted and you will need to ensure that your integration or reporting can handle this change. You will be able to view the original currency and amount in the payment details.
Your settlement will always be in your default settlement currency, even if you have other settlement currencies that are the same as what your customer has selected to pay in.
Fees
Depending on your Airwallex agreement, the contracted or standard transaction fees will apply, such as the FX conversion fee.
See our pricing page for more details about the standard fees.
Refunds or chargebacks
Refunds or chargebacks are performed in the currency that the customer paid in. The automatic currency conversion feature does not guarantee the same exchange rate for refunds or chargebacks as was applied at the time of payment. Because the latest exchange rate is applied when issuing refunds or chargebacks, you may gain or lose revenue depending on how exchange rates have changed.
Reporting
Ensure that your reports and other system integrations can handle the change to local currency in the payment intents.
In the web app, you can view the original currency and payment amount that you submitted on a transaction level and across a range of transactions when you export your payment activity.