Method of Payment and Currencies
Don't forget that the WWW is just that, world wide. One challenge in
going global is determining the method of payment.
There is no global currency and chances are there never will be. Companies
who try to simply use one currency on the Internet will run into large
problems. For example, when eBay first expanded into foreign markets,
auctions were only run in U.S. Currency. That didn't go over very well.
Now the company has had to revamp, allowing clients to set up auctions
based in local currencies.
Many Webmasters think that a cure-all solution is conducting all transactions
via credit cards. This still doesn't take into consideration the taxes
required by certain countries (Great Britain, for example, has a European
Value Added Tax on Internet sales) nor the fact that some foreigners
operate without credit cards and some operate on credit cards which
are based on another currency.
The only way to set up a successful payment method in the true global
economy is by offering buyers the power to use their own currency. This
also requires Webmasters to use automatic calculations for exchange
rates and area-specific taxation, something that often outweighs the
benefits of offering global products.
Actinic is able to display prices in a number of currencies which makes
it unique among affordable e-commerce packages.
If you are going to add multiple currencies then consider using the
Universal Currency Converter. The world's most popular currency
tool, this allows you to perform interactive foreign exchange rate calculations
on the Internet, using live, up-to-the-minute currency rates. It
is found here.
Because e-retailers have to deal with ensuring delivery of products
and accurate billing, it may take some time before the Internet can
truly turn into a global economy and allow you to ship your products
But don't give up hope.
As more people jump online overseas, a greater demand for global e-retailing
will emerge and better resources will appear to aid in the birth of
a truly "worldwide" Web.