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Gift Card Products and Exchange Rates

 

The face values and balances of gift cards are always shown in your store currency, but customers can buy or redeem them in their local currency if you set up and sell them in multiple markets. In this case, exchange rates are applied when transactions are made with gift cards.

 

In This Article

 


 

Redeeming Gift Cards

If the local currency used by customers to pay for orders differs from your store currency, a currency conversion takes place when they redeem the gift card during checkout. The conversion uses the exchange rate at the time of redeeming the gift card, not the exchange rate at the time of purchasing the gift card. As the exchange rate fluctuates, potential losses may occur.

For example, your store currency is US dollar (USD), and you sell a US$100 gift card. A European customer whose local currency is Euros (EUR) purchases the gift card and pays in EUR. The customer then places an order and pays with the gift card. During checkout, the balance in the gift card is converted to Euros, and this amount is used to pay for the order. After the order is paid, the remaining amount in the gift card is converted back to USD.

 


 

Gift Card Balance

The gift card balance is always shown in the store currency. Therefore, when customers view their gift card balance, it is shown in the store currency.

Note:  The gift cards are redeemed based on exchange rates.

 


 

Market-Specific Pricing for Gift Cards

If you sell globally, pay extra attention when setting market-specific prices for gift cards. When you set market-specific prices either by using your manual exchange rates (the rates you set in Settings > Markets > Products and Pricing) or specifying fixed prices, consider the exchange rate fluctuations or potential losses that may occur.

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