Default currency for payment gateways

[KSD]

So far, CubeCart is using the store's default currency when processing payments through payment gateways.

 

Guess this is fine for US or UK shops, as there the credit card processing companies accept USD and GBP on their gateways.

 

In minor markets (like the 350 million people who pay in EURO) situation is different.

 

While customers want to pay in EURO, credit card processing companies need USD on their gateways.

 

Maybe there is a hope that this will be implemented with CC release 6?

 

We think this is just one more switch in the store's general configuration ('select currency for payment gateways').

 

We don't think it is necessary to select a currency on each payment gateway.

 

---

Any work-around until this is (maybe) implemented?

 

Cheers

 

TOM

 

[havenswift-hosting]

So far, CubeCart is using the store's default currency when processing payments through payment gateways.

CubeCart standard payment gateways will also send payments through in whatever currency is set as default in the store

 

Guess this is fine for US or UK shops, as there the credit card processing companies accept USD and GBP on their gateways.

In minor markets (like the 350 million people who pay in EURO) situation is different.

While customers want to pay in EURO, credit card processing companies need USD on their gateways.

The Euro is obviously not a minor market BUT credit card processing companies dont just use USD ! If you are using PayPal (why anyone would choose to use PayPal is beyond me but then dislike them with a passion !) then you just need a Euro account or to setup Euros as an additional currency. However if you have a merchant account then you need to ensure it is a Euro based account AND the processing company you use accepts Euros as well - a lrage number of those around. We have plenty of clients across Europe accepting Euros !

 

Maybe there is a hope that this will be implemented with CC release 6?

We think this is just one more switch in the store's general configuration ('select currency for payment gateways').

Any work-around until this is (maybe) implemented?

Multi-currency is only currently for display purposes and I dont know whether there are any plans to turn V6 into full multi-currency where orders could be held in different currencies and then charged through different payment gateways - I doubt if this is something that too many people would want. It is possible to do something similar now by changing a specific payment gateway (and we have done this for several clients already) so that if they choose XYZ gateway then the order total would be converted to a different currency that the gateway accepts and charged using that currency.

Thanks

Ian

[KSD]

Hello Ian,

 

thank you for your reply.

 

You say:

CubeCart standard payment gateways will also send payments through in whatever currency is set as default in the store.

 

I don't get the meaning of your 'also' in this statement.

 

I posted: So far, CubeCart is using the store's default currency when processing payments through payment gateways.

 

You say:

 

The EURO is obviously not a minor market, BUT credit Card processing companies dont use USD !

 

Here, I have to disagree.

This year we are going to process about 12000 - 15000 orders.

OF COURSE we have merchant accounts.

PayPal is not an alternative as we think that PayPal has strange T&C - sometimes close to fraud - and ... beside their fee structure - there are thousands of shops which complained about this already.

 

In our business we have to compare credit card processing companies with regard to their fees, rolling reserve, payout behavior and many other things.

Not every credit card processing company accepts all king of business. I guess you know that.

Unfortunately our merchant accounts (gateways;interfaces) can't process EURO.

 

You say:

 

I doubt if this is something that too many people would want.

 

Strong statement.

 

Have you ever thought about shops which are based in India, Australia, China, Bulgaria, Switzerland, USA, Poland, Russia ... with a major market in Europe and customers who want to pay in EURO while the credit card processing company is processing in USD only?

 

Do you know, that - outside the UK - credit card processing companies have different requirements towards their clients?

 

So far, we know about 10 other companies which are facing the same problem and we didn't search much.

 

Our IT department says the this is 'not a big deal'.

Just a 'tiny" change request in programming.

 

Against the backgound that we have several problems with CubeCart because we have more than 4096 orders in our database,  it is somehow obvious to us, that CubeCart is designed for very small shops ... and that we have reached these 'limits' already.

 

On the other hand, a move to another shop system - like Magento - takes lots of time and money.

 

So we still hope, that there will be a chance for us to stay with CubeCart.

 

Cheers

[bsmither]

I have recently implemented a small edit to a shop in India. The owner needs:

1. Process transactions in USD

2. By default, show the store prices in Rupees (INR)

3. Allow customers to switch to USD, INR, EUR, etc on demand

 

This has been accomplished, but there is a major consideration: CubeCart administrative functions only operate in the store's default currency.

 

Thus, when adding a new product, you will be stating prices in USD. If you want the currency seen by first-time visitors in EURO, then you will need to externally compute the exchange rate (currently 0.77622) and enter the solution.

 

This means, taking advantage of certain psychological tricks, to show a price of €23.99, you would enter 30.90 (being USD) (or maybe 18.62 - I don't know which).

 

When CubeCart needs to show the prices in other currencies, it uses the exchange rate to derive a value for display purposes only. Internally, CubeCart strictly makes all calculations using the store default currency.

 

So, customers with no currency set in their session data will be assigned EURO, and this is the currency they will see, until they change it.

 

In the file /classes/tax.class.php, make these edits:

Line 63:
Was:
$this->loadCurrencyVars();
 
Now:
$this->loadCurrencyVars('EUR');
 
Lines 174-181:
Was:
    public function loadCurrencyVars($code = false) {
        if (!$code) {
            if ($GLOBALS['session']->has('currency', 'client')) {
                $code = $GLOBALS['session']->get('currency', 'client');
            } else {
                $code = $GLOBALS['config']->get('config', 'default_currency');
            }
        }
 
Now:
    public function loadCurrencyVars($code = false) {
        if ($GLOBALS['session']->has('currency', 'client')) {
            $code = $GLOBALS['session']->get('currency', 'client');
        } elseif (!$code) {
            $code = $GLOBALS['config']->get('config', 'default_currency');
        } else {
            $GLOBALS['session']->set('currency', $code, 'client');
        }

Please note that changing a store's default currency does not automatically update any of the values associated with money.