Multiple currencies

Tuesday, December 20, 2011

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:

First, it is usually reasonable for the site to run deals in local currency, say, pounds in London, but many payment systems only accept US dollars. Still you may run your deals in pounds and the order amount will be converted to USD when the payment is processed.

And second, for the truly global daily deal site, it is now possible to run each deal in its own currency, so you may have a New-York deal in USD, Paris deal in euro and Zurich deal in Swiss franks.

Overall, while not being an exciting feature, multiple currencies provides a much needed flexibility and convenience for the most of non-US site owners.

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