All language subtitles for 40 - Setting Your Store Currency English

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.