 Re: Merchant account for all currencies
Mario,
Taking a step back; could you provide more information on your pricing strategy, and how that fits into your business strategy? If your business is starting out; how important is it for you to offer multi-currency support? Or is this a nice-to-have at this stage? Does this represent a competitive advantage for you? Are your clients expecting multi-currency? and have you asked them? Also, do you have a cost-base in USD which you'd be looking to offset with USD receivables? If not, you should consider why you are exposing yourself to the FX risk.
If this feature is a competitive advantage, and will increase your business; then the investment in multi-currency support may be worth your while. After 10 years in banking/investment banking; I can assure you there is going to be an extra cost associated with multi-currency facilities wherever you go.
__________________ Greg Pritchard
Director, Dedication Group
Business Technology Advisors. Dedication Group works with business stakeholders to plan and implement IT into their businesses. We are experts in strategic planning for business technology, and offer truly impartial, no-holds-barred advice.
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