- Afterpay converts the amount of your purchase in a foreign currency from a foreign merchant into USD based on the conversion rate we received from a third party. This rate may differ from other exchange rates and may differ from the wholesale rates you see when you google the rate on the date you made the purchase. If you return your purchase, we will process the return based on the currency conversion rate used to determine the purchase price.
- No set-up fees, transaction fees or foreign exchange commissions are applied to the exchange rate prior to or after performing the conversion. This ensures that customers know exactly what they are paying when the cost of the order is displayed to them in their currency during the Afterpay transaction process.
- An important benefit of using the Afterpay is that the payment taken from the customer’s credit or debit card is considered a local transaction. This means that the customer will not be charged any international card processing fee which is charged on all card transactions by their bank if they were to buy directly from a retailer overseas.
- Because of currency fluctuations in the foreign exchange market, the exchange rate applied will change regularly based on how strong or weak the currency is. The exchange rate is always expressed from the customer’s perspective so to work out what the customer pays, take the order total in your (Merchant) currency and divide by the exchange rate
- Let’s say the USD is strong against the AUD and the exchange rate is 0.9090, if you purchased something for $100 USD, you will have to pay $110 AUD.
- If the USD is weak against the AUD and the exchange rate is 1.0100, if you purchased something for $100 USD you will have to pay $99 AUD .