Exchange rates

You can offer your shoppers the ability to choose the currency in which they want to pay (our multi-currency service). Your shoppers may pay using the currencies of their choice, and you are paid in your transfer currency.

How it works

1.       A shopper browsing on your website completes an order request. A purchase token containing the shopper transaction details and required Worldpay parameters is passed to our payment service.

2.       The shopper is directed to the Worldpay payment page and can pay in the default currency shown or pay in the alternative currencies supported. In this example, the cost of an item a shopper wants to buy is shown as GBP 10 in the default currency.

3.       The shopper decides to pay in an alternative currency and selects the currency and amount from the dropdown list displayed on the payment page. The shopper decides on Euros as their preferred currency. The amount is displayed in the drop-down list as EUR 14.64.
The price displayed to the shopper is taken from the current exchange rates by our payment service. These are changed each day at midnight.

4.       Our payment service sends this amount to the banking network for authorisation.

5.       If the payment is authorised by the banking network, then the payment is given a payment status of AUTHORISED by our payment service.

6.       As the payment process continues, the payment is CAPTURED and then SETTLED. At settlement, funds are transferred from the financial network to Worldpay and reconciled (matched) to the corresponding order made by the shopper. At this point our payment service converts the currency into your transfer currency using the current exchange rate. You should note that the exchange rate may differ from that set at the point of the purchase transaction.

7.       The settled amount in the transfer currency can now be viewed on the Merchant Interface. The exact exchange rate our payment service used for conversion can be viewed in the Get Statement report (you must configure the report to include the Exchange Rate field) and in the Transfer Batch report which provides details on transactions after we have paid you.