Original subtitles

‫So now that you've got your payment provider set up, the next thing you want to do is to make sure

‫that you've got the correct store currency.

‫So you can see here, I'm over on my settings and I'm on the first one store details, and if I scroll

‫down a bit, you're going to see this section here, store currency.

‫Now this is possibly a little bit more involved than you might think.

‫It says here, the currency, your products are sold in.

‫Okay, no problem there.

‫But you therefore need to think about the market that you're going to sell in.

‫So I said a few times now during this course that it can be a good idea to start off selling products

‫in the United States.

‫It is the biggest and the easiest market to get going.

‫So therefore, if you're doing that, no matter where you live, you might want to set your store currency

‫to US dollars, since that's where most of the people who are going to be buying your products are going

‫to be based.

‫Now, having said that, imagine you're in the United Kingdom and you're only ever going to sell within

‫the United Kingdom.

‫Then you would just leave it as pounds.

‫Or perhaps you're only going to sell in the eurozone, or you're only going to sell in South Africa.

‫So it would be the South African rand, but for the most part we are looking to build an international

‫business and so therefore the US dollar is typically a great start and I would therefore encourage you

‫to set this to be U.S. dollars.

‫Now another thing that gets a little bit confusing sometimes is what currency are you going to receive?

‫So let's just take the example of South Africa, the South African rand.

‫I've literally just pulled that out of nowhere.

‫So the South African rand, let's imagine you've got a business in South Africa.

‫So what's going to happen is your store is showing in US dollars, but when your customers check out

‫it will be converted to South African rand.

‫So even though they're seeing prices in dollars, when they come to pay you, you will receive South

‫African rand.

‫So your whole business will be based in South African rand.

‫So in other words, at that point, at the checkout, at that point of purchase, it converts to whatever

‫your local currency might be and that will be established by your payment provider.

‫I feel like I might have confused things a little bit there.

‫So let me give you another example.

‫Let's imagine you're based in Portugal, so you're using the euro.

‫All of your business transactions are going to be in euros.

‫All of your business recording is going to be in euros.

‫But let's say your store is showing in US dollars.

‫Somebody buys something from your store in the US dollars.

‫That's all great.

‫But in your payment provider is going to show us euros on your own banking, it's going to show us euros.

‫So I hope that's clear.

‫I wanted to put that in at this point because I often get asked that question.

‫So I hope I've covered that off.

‫But nevertheless, when it comes to the store currency itself, as I said, I would strongly encourage

‫you to set it as US dollars.