Cross Border Trade - How is the exchange rate determined?

Afterpay uses a retail exchange rate for converting what the retailer charges for the goods into what the customer would pay in their local currency.    No set-up fees, transaction fees or foreign exchange commissions are applied to the exchange rate prior to performing the conversion.   The exchange rate will change regularly to reflect the currency fluctuations in the foreign exchange market. The exchange rate used to determine what the customer pays for their Afterpay purchase will be shown to them on the payment screen prior to the customer confirming they wish to proceed with the purchase.