I'm happy that Shopify now supports multiple currencies and in order to use it, I changed my default shop currency from USD to Canadian dollars (so that my local pricing would remain stable). However, the US market is important for the success of my shop and being able to pay by Paypal is important to US customers.
The problem is that even though my default Paypal currency is USD, Paypal will only charge the customer in CAD or CAD exchanged to USD. So the checkout total might be $36 USD but Paypal will be asking the customer for $37.50 or $38 due to the exchange rate, hidden fees, rounding up etc. This is very confusing for the customer and it makes me look bad.
I don't want to not offer Paypal. I don't know what to do.
I'm having the same issue. A solution from Shopify would be brilliant as I think they just send PayPal whatever your store currency is. Along with shopify payments we need them to allow us to accept payments in multiple currencies. PayPal supports this with having the ability to hold any currency and then to add multiple payout currencies with Shopify Payments. Currently, if a customer selects to pay in GBP on our store the price will be converted once by shopify on the store and then back as the store is naturally in USD on shopify by PayPal which have very high conversion fees. This means the price is up by about 10%. Both of these things need addressed and allow us to accept in multiple payout currencies on PayPal and Shopify Payments.
I have the exact same problem.
My store is in DKK.
My PP account is in DKK.
When a customer from Germany visits my shop he sees the price in euro.
This price is relatively higher than in DKK because Shopify adds rounding, exchange fee etc., which is fine.
But when the German user wants to pay with PP, Shopify sends PP the euro amount converted back into DKK!
Then PP adds conversion fee to convert to DKK. This makes the customer pay 2 x conversion fees although the Shopify conversion fee is not 'used'.
I actually just need Shopify to send the 'base amount' in DKK to PayPal and let PP handle the conversion fee.
Let me just elaborate on the extremly poor integration with PayPal Express and Shopify Payments.
A European customer visits my site and visits a product that costs 430 DKK.
They see the price in euro - let's say €58.95.
Then they choose to pay with PayPal.
The price in PPE window is exchanged back to my shop currency - but from the euro price what is inflated with Shopify exchange fees.
Now the DKK price in the PPE window is around 437.76 DKK.
In the PPE window this is then exchanged back into euro - including PayPal fees, so the total amount in euro is now around €61.54.
That is 4,3% higher than the shop price (in euro!)
The customer proceeds with PPE - and the window is closed. The customer is then back in the Shopify checkout to submit the order.
In the Shopify checkout €58.95 is shown.
But €61.54 is captured from the customer.
So Shopify does not send the correct base price to PayPal - nor do they state the actual price, the customer is paying once they have gone through PPE.
In Denmark that's illegal. PayPal doesn't care. Shopify doesn't care.
1. Deactivate Shopify Payments and use national PSP
>> Cons: More expensive and not able to let customers shop in their local currency
>> Pros: PayPal integration will actually work with national PSP as intended and the stupid 7 day authorization rule no longer applies
2. Deactivate PayPal as payment solution
>> Cons: Loss in revenue as most foreigners pay with PP in my shop and they don't understand the weird pricing because of the above mentioned issue
>> Pros: End of wrong and double-inflated prices
3. Shift to another shop system
>> Cons: Huge effort, time consuming, SEO will be hit
>> Pros: Clean installation with a national provider who actually cares, is much cheaper, much quicker on load time and much more adaptable