Paypal: How to handle multi-currencies? -
I wrote my own shopping cart in PHP, I am using the PayPal standard API.
I currently allow the user to exchange money with currencies to accept PayPal. My main currency is US Dollar Now, I understand the state of confusion about the process of multi-currencies.
I have my code which calculates the values based on the paypal fee.
For example:
PayPal charges 3. 9% for any country from any other country, then US
then using currency There is a certain fee for ... For USD it is 0.30 in each currency it is fixed fee. Then there is a 2.5% conversion fee for any currency that needs to be changed.
I can understand the value to give customers the above figures.
Now, I want customers to be able to pay me in any currency. I have to know which currency they will pay to get the right price.
Now, on my own shopping cart system, I give them a drop down menu of which currency they can choose.
The problem is that I think the customer is charging in that currency.
For example, I charge a customer $ 200 USD and using my car system. They choose HKD, it will update the price of $ 200 HKD but the problem is that it is completely different ... $ 200 USD is not equal to $ 200 HKD in value.
So, the currency value is being passed to the PayPal API. I do not know what it is for ... I guess PayPal has allowed me to hold currency exchange rates myself and calculate the actual value Offering $ 200 USD to HKD
So, this is what I want to do. I want to accept more than one currencies but I want to avoid myself to deal with currency exchange rates.
In my POP account, I have to catch USD. I can decide to catch euro and HKD in 5 years, but now only need USD.
I want to allow customers to pay in any acceptable currency which accepts paypal. If I need to calculate the value for that currency, I can do it but now I want a simple solution.
So, I do not know how I should go to the API. I'm guessing that the currency will pass in the form of US Dollars steadily ... and guess that people can pay with any other currency on the PayPal server.
If I pass a different currency value such as HKD, then it will start from $ 200 USD to $ 200 HKD.
I think I have to pay a price in USD and PayPal will convert its currency into USD.
However, if this is the case, I know which currency they are using and what country they live in?
The reason for this is that I am effective in my fees in paypal fees, hence the currency is used and if the user is using the U.S. I also include conversion fees in these fees.
If I send USD currency value ... I am sure that people with computer skills can send these values to PayPal. Is there a way to verify that the user is from that country and using that currency before processing the transaction?
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