QuickSync’s Forex & Currency Conversion feature enables businesses to seamlessly handle international pricing by automatically converting product prices across different currencies. This feature ensures that global customers see accurate, up-to-date pricing in their local currency, enhancing trust and simplifying the shopping experience.
Key Benefits of Forex & Currency Conversion
1. Real-Time Exchange Rate Updates: QuickSync retrieves live exchange rates from trusted sources (e.g., Open Exchange Rates API).
• Exchange rates are updated hourly, ensuring your prices are always current.
2. Automatic Currency Conversion: Prices are converted dynamically between the base currency and the customer’s desired currency. Supports conversions between any two currencies.
3. Clean and Friendly Price Display: Intelligent rounding ensures converted prices look professional and customer-friendly:
• If the fractional part is ≤ 0.50, the price is rounded to +0.49.
• If the fractional part is > 0.50, the price is rounded to +0.99.
4. Fallback for Reliability: If live exchange rates aren’t available, QuickSync uses the most recent stored rates to ensure uninterrupted service.
5. Integrated with Inventory & Order Syncing: Forex and currency conversion integrate seamlessly with QuickSync’s inventory and order syncing features, ensuring consistency across all platforms.
How Forex & Currency Conversion Works
1. Base Currency Setup: By default, QuickSync uses your Store's currency as the base currency.
2. Fetching Real-Time Rates: Exchange rates are fetched from reliable APIs and stored in QuickSync’s database. Rates are refreshed every hour, or you can manually trigger an update when needed.
3. Converting Prices: When a customer views a product in a different currency, QuickSync syncs the converted price dynamically. Converted prices are displayed instantly on the respective sales channel.
4. Fallback Mechanism: If QuickSync cannot fetch the latest exchange rates, it automatically falls back to the most recent stored data.
5. Rounding for Display: Converted prices are rounded for a clean display while maintaining accuracy.
Example Scenarios
1. Multichannel E-Commerce
• Your Shopify store lists products in USD, but you also sell on Etsy, which requires prices in EUR.
• QuickSync automatically converts your product prices into EUR based on the latest exchange rate.
2. Price Display in Local Currency
• A customer from the UK views a product on your Amazon store, and QuickSync converts the price from USD to GBP.
• The price is rounded to create a customer-friendly display like £123.99.
3. Handling API Downtime
• If the exchange rate API is temporarily unavailable, QuickSync uses previously stored rates to ensure uninterrupted operation.
Start using QuickSync today and take your global selling to the next level!