Shopify has rolled out a new feature that allows European merchants to receive payouts in multiple currencies. Consequently, this update simplifies financial operations for larger online retailers, reducing the need to manage multiple stores or seek alternative e-commerce solutions.
Merchants using Shopify Advanced and Plus in six European countries—the United Kingdom, Germany, Spain, Italy, the Netherlands, and Austria—can now add international currency payout accounts. This long-requested feature gives businesses greater control over their earnings while minimizing currency conversion fees.
The Multi-Currency Payouts feature currently supports 17 currencies, including the US dollar, Australian dollar, Canadian dollar, Danish krone, euro, Hungarian forint, Hong Kong dollar, Japanese yen, New Zealand dollar, Norwegian krone, Polish złoty, Romanian leu, Singapore dollar, South African rand, Swedish krona, Swiss franc, and Czech koruna.
Shopify allows eligible merchants to link up to eight different bank accounts in various currencies. Shopify’s Help Center states that merchants can avoid certain exchange fees when receiving payments, issuing refunds, or handling chargebacks. This is possible if they have a bank account set up in the relevant currency..
The announcement has already gained traction within the e-commerce community. Shopify’s Benelux lead, Mel van Lieshout, hinted that this update is just the beginning, stating:
“This is part of a larger initiative. More updates will follow.”
Earlier this year, Shopify took steps to enhance cross-border selling by enabling merchants to create localized storefronts for up to three markets. The company has been steadily expanding its global commerce tools, reinforcing its commitment to supporting international growth for online businesses.
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