Lulu here from the Shopify Support team. Thanks for reaching out here, and I'll be more than happy to help you out.
Sorry to hear you have been struggling to get started, I know starting a business can be stressful. It's a good idea to use Paystack and start off selling in Nigeria as you can master that market first before starting internationally. Can I confirm you are looking to change your currency from USD to Naira?
This is possible and I can help you with this, however, I would like to let you know about the effects this will have on your business just so you are aware.
- Reporting: With changing between currencies, our reporting doesn't factor in the difference between currencies. So if you had €500 processed, that would show as €500 in reports. Say the next day, you switch to USD, the report would still read as €500 for previous processing. Since €1 is not equal to $1USD, the reports, in theory, will be wrong going forward.
- Product Pricing: Since the dollar amount between currencies is not the same, a product price’s value, could mean something different if the currency is adjusted and impact your margins. For example - €20, is not equal to $20 USD. Refunds processed after a currency change will also be affected by the currency change.
- Apps: Some apps may have limitations when it comes to changing the selling currency. If you would like to know how changing the selling currency will affect your apps, you will need to reach out to the App partner to clarify before changing their selling currency.
With Shopify actively encouraging merchants in some instances to adjust currency for new features, we want to make sure merchants are properly aware of any potential areas they need to be aware of for their account.
That being said, there are also some possible workarounds!
- Reporting: You can set a “date range” for the data you are reviewing, to exclude any transactions that might have been processed in a different currency before the specific date of the currency switch.
- Other: Making any adjustments to their product pricing if needed to factor in the currency difference. You’ll also want to review any of your product pages, themes, etc for currency information, that might need to be adjusted. Note that refunds will be processed in the new currency.
Have a read through that and let me know if you still want to go ahead with the currency switch and I can help you out further.
Lulu | Social Care @ Shopify
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