CheckoutCredit Cards

💲Currency Presentment

Overview

Currency presentment allows merchants to define how transaction amounts are displayed and processed for payers. This includes setting the base currency which Coinflow uses to calculate the total purchase price, along with specifying the currency in which the payer will see the totals and be charged in.

Configuring Currency Presentment

Merchants need to configure two key elements when initiating a card transaction:

  1. Base Amount and Currency
    The merchant must pass a subtotal and currency. This defines the purchase price in the merchant’s chosen currency. All calculations, including foreign exchange (FX) fees, will be based on this amount.
  2. Presentment Currency
    The merchant can also specify the presentment currency. This is the currency in which the payer sees when checking out, and the currency their card will be charged in. If the presentment currency differs from the base currency, an FX conversion will be applied, including any applicable FX fees. If a presentment currencyis not specified, the currency defined by the subtotal will be applied.

    📘 Coinflow currently supports only USD as the base currency or the same currency as the presentment currency.

    Example Supported Scenarios:

    • If the subtotal is 2 and the currency is USD, while the presentment currency is SGD.
    • If the subtotal is 2 and both the currency and presentment currency are SGD.

    Example Unsupported Scenario:

    • If the subtotal is 2, the currency is PHP, and the presentment currency is SGD, this is not supported.

Example Workflow

  1. A merchant sets:
    • amount: 200
    • currency: USD
    • presentment currency: SGD
  2. Coinflow calculates the equivalent SGD amount based on the market exchange rate.
  3. The payer sees the subtotal in SGD and is charged in SGD.
  4. The merchant receives the funds in USDC, with FX fees and Coinflow fees deducted accordingly.

Demos

Key Considerations

  • If the currency and presentment currency are the same, no FX conversion occurs.
  • If different, the payer will be charged based on the real time exchange rate and any Coinflow fees.
  • Merchants should ensure they select an appropriate presentment currency to align with their customers’ expectations.