Chargebee's Multicurrency feature provides you with the option of creating Plans in multiple currencies, thus allowing your customers to pay in their local currency.
If you are an API user, this feature requires you to pass the currency_code input parameter for some of our API methods before enabling it on your Chargebee site, failing which errors will occur. To be able to do this you need to upgrade to API version V2 if you are on our older version.
The base currency will be your default currency, and will also be used as your reporting currency. Foreign currencies that you transact in will be your Additional Currencies.
Follow the steps below to configure additional currencies in your site.
Here you can choose how to set the conversion rate (exchange rate) for the currency added, with respect to your base currency. You can manually configure the conversion rate or let Chargebee handle the conversion for you.
Some features are available only in selected plans. To know more, visit Chargebee's Plans and Pricing page.
The currencies that you've added will appear under the section Additional Currencies. You will have the option to schedule a change in the exchange rate of a currency, and also update existing rates.
Note on exchange rates
Transactions made in the additional currencies will be converted to the base currency using the exchange rates that you configure in them, for reporting purposes. Learn more.
Here's how Chargebee picks exchange rates:
If today is 4th August 2016,
Gateways and Multicurrency Support
Some gateways support transactions in multiple currencies and others don't. We recommend checking with your gateway to ensure that every transaction associated with the currencies you have enabled in your site can be processed:
If your gateway requires you to configure more than one account to process multiple currencies (this is the case with Authorize.Net for example), you can connect them all to Chargebee. Once connected, make sure you configure rules to specify which account is associated with a payment method type and currency at Chargebee's Smart Routing page (Settings > Configure Chargebee > Payment Gateways > Manage Rules).
If your gateway provides you with multiple merchant account IDs rather than multiple accounts to handle transaction in different currencies (as is the case with Braintree), please contact Chargebee Support with a list of your merchant account IDs and details of which merchant account ID you would like to associate with a currency enabled in your site.
The additional currencies that you've set up will appear for selection when you create your Plans/Addons/Coupons.
If you offer the same Plan in various currencies, you need to create the Plan for each of the currencies. This can be easily achieved using the Clone Plan option.
The currency of the Subscription depends on the Plan you select while creating the Subscription.
Invoices generated for the Subscription will be in the same currency too.
You can have credits, payments, invoices, and subscriptions of multiple currencies for your Customers.
The currencies that you've set up will appear for selection when you add/deduct credits or payments.
In the case of applying credits or payments on invoices, the currency of the credits/payment being applied and that of the invoice should match.
The reports will display aggregate values in the base currency, by default. The value of transactions in all the configured currencies will be converted to the base currency value using their respective exchange rates, and will form a part of the reports' numbers.
You can also get the metrics in the currency you require by selecting the currency from the dropdown menu on the top right corner.
The option to change currencies will also be available for the following reports: