Unlocking The Potential of Shopify Multi-Currency: A Complete Guide 

Dollars, pounds, euros, or INR,

Regardless of these names, nowadays, consumers expect to conveniently shop in local currencies. However, selling with multiple currencies isn’t an easy process. This is because Sourcing products in one currency & selling them in another may expose your business to diverse challenges such as technical hurdles, operational complexities, etc. Moreover, the risk of currency exchange fluctuations may diminish your profit margins.

When you are looking for shopify development services to expand your brand into new countries, there are many things to consider, from foreign tax obligations to global fulfillment quirks. Fortunately, expanding your eCommerce business globally has become easier with the multi-currency feature of Shopify. This enables merchants to finely showcase prices & accept payments in different currencies. This feature allows them to cater to potential customers from diverse regions across the globe.

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Apart from that, with the Multi-Currency feature, consumers can also check product prices in preferred currencies which significantly enhances conversion rates & improves online shopping experience. In this blog, we will discuss all aspects of Shopify multi-currency and its key benefits. Let’s get started.

Key Benefits of Shopify Multi-Currency

The Shopify multi-currency feature allows you to select the currencies you would like to offer on your store. Moreover, this also makes the online shopping experience more convenient and enjoyable. Let’s have a look at the prime benefits of this feature:

1. Better Conversion Rates: By showing product prices in multiple currencies, Shopify helps to increase conversion rates and customer engagement.
2. Flexible Pricing: With multiple currencies, merchants can implement dynamic pricing based on market conditions and currency fluctuations.
3. Competitive Advantage: The multi-currency feature of Shopify allows merchants to stay ahead of their competitors & showcase a commitment to serving several consumer needs.
4. Wider Reach:With multi-currency features, merchants can easily expand their brands to global markets & grab customer attention across the world.
5. Streamlined Checkout Process:Consumers can finish transactions without performing manual currency conversions. This simplifies the overall checkout process & minimizes friction.

What are The Best Currency Converter Apps for Shopify in 2024?

Shopify multi-currency apps can automatically identify the location of customers & convert the product price to the local currency. It saves global customers from manual currency conversions and enhances personalized online shopping experience. Let’s have a look at the top Shopify multi-currency converters in 2024.

1. SmartCS: Currency Converter 

SmartCS converter is designed to offer hyper personalized shopping experience to global customers. It can automatically display currencies based on geographical locations. In the SmartCS, the exchange rates are finely updated, therefore, you don’t think about accuracy.

Rating: 4.9
Pricing: Free
Top features:

• Fast and seamless currency conversion
• Automatically set up rules for round price
• Responsive app across all devices
• Support the built-in currency selector
• Checkout currency notification
• Unlimited number of currencies

2. Nova: Multi Currency Converter

Nova is an automatic currency switcher that offers your global customers an excellent online shopping experience. Though Nova comes with limited features and functionalities, it’s ideal for small businesses. It also offers 24/7 chat support and up-to-date exchange rates.

Rating: 4.9 (600+ reviews)
Pricing: Free
Top features:

• Automatically currency switching
• Instant app enabling or disabling
• No coding skills necessary
• Customize settings & 24/7 live chat support
• Convert up to 130+ different currencies

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3. BUCKS Currency Converter PRO++

This is one of the popular automatic currency converters that supports 160+ currencies. It comes with an instant loading feature that helps to convert pricing based on the customer’s geo-locations. BUCKS also offers excellent customer support for improved customer experience.

Rating: 4.9
Pricing: Free
Top features:

• Automatic and instant currency
• Support 160+ currencies
• Personalized currency rounding
• Work with AJAX and multiple variants
• Top-notch customer support
• Manual API support for 3rd-party integrations
• No coding skills required
• Easy Installation/Uninstallation

4. Currency Converter & Switcher

Currency Converter & Switcher is designed by Webrex which is an excellent converter and comes with 24/7 premium customer support. With this app, you can easily configure country-specific rules to convert currencies.

Rating: 4.9 (200+ reviews)
Pricing: Free
Top features:

• Auto switch pricing to match local currency
• Customized currency symbols and formats
• Supports 200+ ISO currencies
• Currency rounding rule set up

5. Best Currency Converter 

Best is one of the top-rated currency converters that supports 160+ currencies. It allows users to instantly convert prices to local currency. No matter what is the location of your customers, this app will accurately detect the IP & select the currency for a better shopping experience.

Rating: 4.7
Pricing: Free, Elite Plan: $9.95/month
Top features:

• Work with more than 160 currencies
• Instant local currency conversion
• Currency notification checkout
• Works on Ajax checkout

6. Transcy: AI Language Translate

Transcy is an eye-catching Shopify currency selector that helps global customers by showing local pricing instantly. With this tool, you can convert languages & currencies with ease. Moreover, this converter also comes with 24/7 excellent customer support service.

Rating: 4.9
Pricing: Free
Basic:

1. $9.90/month
2. Growth: $19.90/month
3. Premium: $39.90/month

Top Features:

• 167+ popular currency support
• Daily exchange rate updates
• Optimal rounding system
• Easy to use
• 24/7 customer support

What are The Shopify Plans in India?

Shopify offers 4 unique pricing plans for custom online Shopify store development in India. Each plan is designed with plenty of features. Let’s have a look at the best Shopify plans and their benefits.

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1. Basic: Starts From ₹1,994/Month

This plan is finely designed for solo entrepreneurs or business owners. The basic plan provides core features and necessary tools to develop your eCommerce store. Key features include

• 10 inventory locations
• Localized global selling (3 markets)
• 24/7 chat support
• Free SSL certificate
• POS Lite
• Supports 2 staff accounts
• Manual order creation
• Abandoned cart recovery features
• Zero external hostings required
• Fraud analysis tools
• File storage support

2. Shopify: Starts from ₹7,447/Month

This plan is best for small businesses and SMBs. It helps enterprises with professional reporting & more staff accounts. The top features of the Shopify plan include:

• 10 inventory locations
• Localized global selling (3 markets)
• 24/7 chat support
• 5 additional staff accounts
• POS Lite
• Unlimited product listing
• Supports gift cards
• Lower transaction fees

3. Advanced: Starts from ₹30,164/Month

This Shopify plan is built for large-scale eCommerce businesses. With Advanced plans, you can significantly scale up your business. Key features of this plan include:

• Custom analytics & reporting
• 10 inventory locations
• 15 additional staff accounts
• Improved 24/7 chat support
• 10x checkout capacity
• POS Lite
• Lowest transaction fee

4. Plus: Starts from ₹1,75,000/Month

Shopify Plus is ideal for highly complex eCommerce marketplaces and enterprises. With top-notch capabilities and several features, this plan meets all your business needs. The top features of Shopify Plus include:

• Custom analytics & reporting
• Advanced 24/7 phone support
• 200 inventory locations
• Unlimited staff accounts
• Localized global selling (50 markets)
• Fully customizable checkout with 40x capacity
• 200 POS Pro locations
• Sell wholesale/B2B

Apart from that, you can get a number of common features with all these plans such as:

  eCommerce website development

  Top-notch product listings

  24/7 technical assistance

  Seamless order creation

  Multiple sales channels

  Generation of discount codes

  Free SSL certificates

  Gift cards

  Abandoned cart recovery

  International market management

  Customer segmentation

  Unlimited contacts

  Market domain management

  Multi-language support

For your convenience, we have shared a table mentioning all the features and benefits of Shopify store development pricing plans in India.

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Final Words

Selling with multiple currencies on the Shopify platform helps you offer an improved customer shopping experience. This leads to an increased conversion rate and enhanced customer loyalty. With this feature, your customers will love to make their payments using local currencies. This ensures that your customers check up-to-date and accurate pricing that maximizes their trust in your brand and reduces the risk of fluctuating exchange rates.

FAQ’s

1. How to Change The Currency in Shopify?

You need to consider below steps to change the currency in Shopify:

Step 1: You need to log in to your Admin panel on Shopify. Go to the dashboard and start signing in with the account credentials.

Step 2: Open Access Settings in the admin panel and click “Settings” at the bottom left corner.

Step 3: Now click “General” under the “Settings” menu.

Step 4: Scroll down to “Standards and formats” and select the “Store currency” option. Now choose the currency from the dropdown menu.

Step 5: Once you select, click “Save” to apply the changes.

Step 6: Now, open your store and check whether the currency has changed or not.

2. How to Change The Payout on Shopify?

You need to consider below steps to change the payout settings in Shopify:

Step 1: Open the admin panel of your Shopify account with login credentials.

Step 2: Once you log in, click “Settings” at the bottom left corner of the window.

Step 3: Now open the “Settings” menu and click “Payment providers.”

Step 4: In the Payout Settings section, find the payment providers like Shopify Payments, PayPal, etc., and click it.

Step 5: Go to the section related to settlements or payouts. Based on the payment provider you are using, you can see many options to change the payout frequency, bank account details, payout settings, etc.

Step 6: Once you have made all desired changes, save your settings by selecting the “Save” or “Update” button.

Step 7: Kindly double-check to ensure that your settings have been properly updated. You can also test a transaction to make sure that payouts are being correctly processed.

3. What is The Best Currency Converter App for Shopify?”

There are diverse currency converter apps available in the Shopify app store. Based on popularity, features, and functionalities, the top 6 Shopify converter apps include:

1. SmartCS: Currency Converter
2. Nova: Multi Currency Converter
3. BUCKS Currency Converter PRO++
4. Currency Converter & Switcher
5. Best Currency Converter
6. Transcy: AI-Language Translate