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Local currency pricing lets your buyers pay in their local currency across the markets listed below. Waffo Pancake determines the presentment currency from the buyer’s billing country, automatically calculates the localized price, and handles all currency conversion. Use local currency pricing to:
  • Display prices in the buyer’s local currency based on their billing country
  • Charge in real time at an exchange rate that is guaranteed through settlement and refund
  • Settle in USD regardless of the currency the buyer paid in
Integration effort: none. Local currency pricing is on for every hosted checkout. Fees: see Pricing below.

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How the currency is chosen

The presentment currency follows the billing country on the first checkout page:
  1. Waffo Pancake detects the buyer’s country from their IP address and pre-fills it.
  2. The buyer can change the country on the page.
  3. When the buyer continues to payment, the currency of the country on the page is used — if it is a supported currency and differs from your pricing currency. Otherwise the buyer pays in your pricing currency.
Passing billingDetail when you create the checkout session fixes the billing country; the buyer cannot change it. The card the buyer uses has no effect on the presentment currency. If the card is in a third currency, the issuing bank converts the charge on the buyer’s statement at its own rate.

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Reporting

Orders and payments reflect what the buyer paid in your pricing currency, which is the currency you set on the product. If a buyer paid in their local currency, the payment’s amountDetails also carries settlementCurrency and settlementAmount — the currency and amount the buyer was actually charged:
Query them through the payment GraphQL field. Webhook events carry the pricing currency only; look up the payment by orderId when you need the presentment amount.

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Restrictions

Local currency pricing cannot be turned off per store or per checkout session. To have buyers in a market pay a round figure, price the product in that market’s currency — see Tailor Checkout to Your Audience. Local currency pricing does not apply to:
  • Billing countries whose currency is not in the supported list. The buyer pays in your pricing currency.
  • WeChat Pay. USD-priced WeChat Pay orders are routed via HKD and the WeChat sheet shows CNY — see WeChat Pay notes.

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Supported currencies

Buyers whose billing country uses one of these currencies pay in that currency:

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Pricing

  • You pay 0%
  • Your buyers pay 2–4%
You pay no additional Waffo Pancake fee for local currency pricing; all such fees are paid by your buyers. The exchange rate presented to the buyer includes a 2–4% conversion fee, which increases their purchase price by a corresponding amount. Waffo Pancake determines the fee. A buyer whose billing country uses your pricing currency does not pay this fee, but their bank’s exchange rate and fees might apply. For example, a product priced at USD 10.00 is charged as HKD 81.23 to a buyer in Hong Kong, where the mid-market rate would give about HKD 78.50.

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Exchange rate

Waffo Pancake uses the mid-market exchange rate and applies the conversion fee to guarantee the rate through settlement. The rate is fixed when the buyer is charged.

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Refunds

You issue a refund in your pricing currency, and Waffo Pancake refunds the buyer in the currency they used to make the payment. The refund uses the same exchange rate as the original charge, so there are no extra costs for you, and the buyer gets back the exact amount they paid. The refund fee applies as usual.

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Settlement

Your settlement currency is USD for every store. For USD-priced products you receive the listed price; for products priced in another currency the listed price is converted to USD at settlement. Fees follow the fee schedule. The buyer’s presentment currency has no effect on what you receive. See Preferences.