The topic on online payments is a bit difficult to answer without writing a dissertation on payment processing. Each of the terms deserves to be considered as a separate topic. The following, therefore, is not pretended to be an encyclopedic presentation of information of how online payments work for merchants. Nevertheless, it explains the main processes that occur during online payments.
Have you had online purchase experience when you were required to fill in long forms and go through a registration procedure (receive confirmation e-mail – confirm account – follow the purchase procedure once again, etc.)?
Getsocio.com, an online commerce platform for daily deal entrepreneurs, expands the range of payment options for deal payments. Each daily deal site on Getsocio can now handle multiple currencies.
The amount is automatically converted from one currency to another when needed. The exchange rates are fetched every day from European central bank.
There are two practical use cases for multiple currencies