The number of applications providing currency conversion services continues to increase day by day. Many applications integrate currency conversion APIs services into their applications and offer their users the opportunity to handle transactions that take a long time in milliseconds. Especially investment applications, e-commerce applications are frequently preferred by financial institutions.
The most preferred service by developers and business owners, providing the currency conversion service, is the Fixer API. Fixer API provides instant data of 170 official currencies obtained from reliable sources. It is preferred by many big companies such as Microsoft, Samsung, by presenting both current and historical data of 170 official currencies in just milliseconds.
Many other services that provide currency conversion services such as Fixer API are actively used in projects. Currency conversion is of great importance, especially in businesses that provide international sales services. In this article, we will list the payment steps of the enterprises using the services that provide currency conversion services and how to make them reliable in 5 items.
Get paid in the user’s official currency in the location
It is the most frequently used area of APIs that provide currency conversion services. It allows the payment step to proceed more securely. If the official currency of the user’s location and the official currency of the products on the site are different, and the payment must be received in the official currency of the user, the most correct method is to use the service that provides currency conversion service.
After the user selects the products they want to buy, the total price of the products is calculated according to the value in the official currency of the user with the currency conversion service, and the payment is made in this way.
Get paid in default currency
For example, to provide a better experience for your users, you have converted all currency information on your website to the currency of the user’s location. However, you only need to receive payment in a single currency during payment, but this currency is different from the official currency in the user’s location.
In this scenario, the payment step becomes more reliable with a currency conversion service. All currency values have already been converted when the user enters the website, and at the time of payment, the total amount is once again converted to the default currency and the transaction is ensured securely.
Presenting the products in the accepted currency before checkout step
It is important to use the currency conversion service when listing products. In addition, if the currencies supported while listing the product include the currency of the user’s location, they should be converted completely, but if they do not, product listings should not be made in the currency of the user’s location. Ignoring this situation may lead to minor price differences during payment.
It is very important for companies that actively buy products from abroad to use services that provide currency conversion services in their systems. They can make more reliable transactions with the currency conversion service they will use when purchasing products or making accounts in different currencies from different countries.
Companies that sell products abroad should use services that offer currency conversion services. With the currency conversion service that they will include in their systems, they can instantly convert the currencies of the countries where they will sell, thereby minimizing the error rate in their transactions.
With the services that provide currency conversion services, businesses offer a safer payment experience to both their users and their businesses by minimizing the errors experienced during payment. You can provide currency conversion service in your applications and websites with Fixer API.