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Building Blocks

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Taxes

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Configuring Gateways

Fraud Management

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Attach Additional Data

Migration

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Other Features

API Integration

Third Party Integrations

Multicurrency Pricing 

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.

Prerequisites 

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.

Configuring Multicurrency 

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.

1. Adding Currencies 

  1. Go to SettingsSite SettingsCurrencies and click the Enable under Multicurrency Configuration
  2. Click Add a Currency
  3. Select the required currency and exchange rate. Use one of the following exchange rate types based on your requirement:
  • Manual - Use this option to specify the exchange rate yourself and also schedule rate changes.
  • Auto - Use this option to let Chargebee set the exchange rate. Chargebee will automatically update the exchange rates based on the information received from third party exchange rate providers.

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.

If you choose Auto as the Exchange Rate Type, Chargebee uses the exchange rates available with currencylayer  and Open Exchange Rates .

Here's how Chargebee picks exchange rates:

If today is 4th August 2016,

  • The previous day's (3rd August 2016) closing rates will be synced with Chargebee from the exchange rate sources.
  • The synced rates will be used for transactions occurring from 00.30 UTC onwards.
  • For transactions occurring before 00.30 UTC, Chargebee will use the closing rates from 2nd August.
  • If Chargebee fails to sync with the exchange rate sources on 4th August 2016, the last available exchange rates will be used.
  • For transactions dated prior to 2011, the closest available exchange rate for 2011 will be used for conversion.


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 > Payment gateways > Smart Routing > 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.

2. Setting up your Product Catalog 

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.

Note
  • For coupons, the option to set currencies will appear only when you set the Discount Type to Fixed Amount.
  • If you want to link a Plan/Addon to a Coupon, both need to have the same currency configured.

Subscriptions 

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.

Note
  • You will not be able to change the currency for existing subscriptions. If you want to change the currency for a Subscription, you need to cancel it and create a new one with the required currency.
  • The currency of the Subscription created via a Hosted Page checkout will be based on the currency of the Plan selected by the Customer.

Customers 

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.

Reports 

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:

  • At a glance
  • Monthly Plan Revenue
  • Monthly Addon Revenue
  • ARPU
  • Renewal Summary
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