If you want to sail off your online business to the global store, a single-currency approach won’t be of much help. Instead, we would recommend that you set up Shopify multi currency to enable your international shoppers to shop comfortably in their local currency, thereby improving your conversion rate.
Don’t worry! In this article, we will walk you through a step-by-step guide on configuring multi currency checkout Shopify.
Contents
1. How to set up Shopify multi currency?
As of the time being, there are two methods to set up multi-currency for your store– using Shopify Payments or a Shopify currency converter.
1.1. Using Shopify Payments (recommended)
The first method is setting up Shopify multi-currency and sync it with Shopify Payments.
💡 You can display your product prices in different currencies by setting up Shopify Markets or a third-party app. However, for customers to pay with their currencies at checkout, Shopify Payments is the only payment gateway to go.
Follow the instructions below to set up Shopify multi currency using Shopify Payments:
1.1.1. Step 1: Activate Shopify Payments
First, you will need to set up Shopify payment multi currency. Go to Settings > Select the Payments tab > Then hit the Active Shopify Payments button to initiate the process if you are living in one of the supported countries for Shopify Payments.
Then, enter the information about your business and personal information required from Shopify. If you meet Shopify’s requirements, a Shopify Balance account will be issued to you.
Finally, click Submit details to enable Shopify Payments as your payment gateway.
1.1.2. Step 2: Add markets and currencies to the markets
After you have activated Shopify Payments successfully, the next thing to do is add markets and configure currency for your markets.
Simply navigate to Settings > Choose Markets. Herein, you will see two markets already created by Shopify, which are:
- Primary market: This is the market Shopify automatically set based on your location at the account sign-up step. By default, your Primary market is active and has a pre-defined currency based on your store location (e.g. if your primary market is the US, your default currency would be USD).
- International market: This market consists of popular countries that other Shopify merchants similar to you may sell to. By default, the International market is inactive and shares the same currency with your primary market. This setup is convenient because to start selling to countries in the International Market, all you need to do is activate it.
Now, let’s say you plan to expand to Japan. Here is how to add Japan as a market and set up Japanese Yen as a currency for this market:
- Click Add market.
- Name your market and add country(es) to your market. In this example, we would name the market Japan and tick Japan to add the country to the market.
- If you have added the market successfully, it will look something like the one in the screenshot below. Also, remember that the market is Active.
❗ Important (many merchants would overlook this step): To accept your customers in local currency, you must then go to Preference > Click Local currency and then tick on the market you love your customers to check out in their currency > Hit Save.
1.1.3. Step 3: Display a currency switcher on your storefront
After you have enabled Shopify Payments and set up a market with local currency, the next step is displaying your Shopify currency switcher so your shoppers can select their preferred currency.
Though most of the best Shopify themes would automatically display the currency switcher after you have activated another market in step 2, it’s advised that you double-check.
It’s quite simple indeed. All you have to do is go to Online Store > Choose Themes > Navigate to the theme you want to display the currency switcher and click Customize.
The theme we use is Dawn Shopify theme, and by default, the theme automatically displays a currency selector like this on our footer.
If the Currency/region selector isn’t automatically enabled for you yet, just toggle it on, and you will be all set.
1.1.4. Step 4: (Optional) Set up exchange rate rules and geolocation
After step 3, you can already accept local currency from your customers at the checkout page. Nevertheless, you could adjust your Shopify multi currency settings further with exchange rate rules and auto currency switcher Shopify (aka geolocation).
- To edit your currency exchange rate:
Click on the market you have just added > Select Products and pricing.
Navigate to Pricing and click on the hyperlink text “Manage exchange rate. You can then choose how to convert your default currency to your market’s currency.
By default, this would be Dynamic, meaning the exchange rate will be calculated at the time of your customer’s purchase or refund.
Though we recommend keeping Shopify’s default option for accurate conversion, you can choose to set a manual exchange rate depending on your use cases.
- To enable geolocation functionality
Instead of letting your customers choose the currency on your switcher, you can enable the geolocation feature. This means when a visitor lands on your store, Shopify will detect the visitor’s geolocation and automatically switch to their local currency.
To set this up, simply go to Markets > Select Preferences > On the Automatic redirection, make sure that you toggle on the Country/region redirection.
1.2. Without Shopify Payments: Third-Party Currency Apps
Don’t reside in the regions where Shopify Payments is supported? No worry! You can still display your product prices in your customers’ local currency using one of the best Shopify currency converter apps below:
| App name | Rating | Pricing | Link |
| BUCKS Currency Converter PRO++ | 4.9/5 ⭐⭐⭐⭐⭐ | Free | Try now |
| Currency Converter Plus | 4.9/5 ⭐⭐⭐⭐⭐ | $9.99/month | Try now |
| Nova: Multi Currency Converter | 4.9/5 ⭐⭐⭐⭐⭐ | Free | Try now |
| SmartCS: Currency Converter | 4.9/5 ⭐⭐⭐⭐⭐ | $0-$12/month | Try now |
| Webrex ‑ Currency Converter | 4.9/5 ⭐⭐⭐⭐⭐ | $0-$4.99/month | Try now |
In this example, we would use BUCKS Currency Converter PRO++ for a demo for its budget-friendly pricing and ease of use.
First, install the BUCKS Currency Converter PRO++ using the link provided above. Then, follow the app’s 3-step onboarding checklist to:
- Set up money format
- Enable theme app extension
- Enable app
After you have finished the quick setup, go to Settings under the app name. Herein, you can add up to 153 currencies to your Shopify currency switcher and preview them on the top right corner of your screen.
💡 If you still have troubles setting up a Shopify store, consider getting help from our team of experts for Shopify store setup and configuration service.
2. Why is Shopify multi currency important?
Now that you know how to set up Shopify multi currency checkout, let’s explore why you need to do so.
Thanks to the borderless nature of the Internet, anyone can visit your store and browse your products. Hence, enabling multi-currency on your store would help::
- Enhance international customers’ experience: If a global visitor lands on your website and doesn’t find the currency they are familiar with, they will have to convert your product prices manually. Hence, with proper multicurrency Shopify, that visitor’s shopping journey will be much more seamless.
- Boost customer conversion rates: Since your global shoppers have a more frictionless shopping experience, your conversions will get a boost as well. Evidently, 49% of shoppers claimed they would abandon carts without finding the currency they are familiar with.
- Improve your market adaptability: By setting up multiple currencies on your store, you can tailor your pricing to different markets’ tax regulations, buying powers, etc. This will help you better localize your Shopify store for customers from different countries, allowing you to expand to other markets more easily.
- Maximize profits and efficiency: By reducing currency conversion friction for customers, you will likely see lower cart abandonment rates and higher conversion rates, directly impacting your bottom line.
3. Best practices for Shopify multi currency
To help you amplify your Shopify store localization effort and drive global sales, here are some of the best practices you should keep in mind:
- Always test your store thoroughly whenever you add a new market or change any settings. This includes checking the currency display, pricing accuracy, and the entire checkout process from the perspective of customers in different regions.
- If you have set exchange rates manually, it’s crucial to monitor them regularly. This is because currency values fluctuate constantly, and outdated rates can lead to pricing discrepancies that may affect your profit margins or customer satisfaction.
- Consider customizing local payment methods to unleash the full potential of your global market expansion. For instance, if you are targeting European customers, consider adding popular payment options like PayPal or Klarna.
4. Conclusion
If you feel like you are reaching a dead-end with your local market already, expanding to other markets is a wise move that can help you break through the limits. Nevertheless, to successfully step into new markets, you need to adapt your online store to match people’s preferences in those markets. And one of the key aspects you shouldn’t miss out on localizing is your currency.
For that, eComStart team hopes this guide can help you set up Shopify multi currency properly so you can kick-start your global expansion journey.
Remember to check out eComStart.io to get all the insightful eCommerce tips and tricks at your fingertips.
5. Frequently asked questions
