Jun 23, 2019 - 09:57 AM
For this question, there is unfortunately no way around the foreign exchange issue -- someone has to bear the cost of accepting payments in non-native currency.
As long as the the customer is paying in a different currency e.g EUR from the merchant payout e.g USD, there will be an FX fee.
An alternative would be to set up an entity in the region of the payout currency e.g. if the person wants to be paid out in EUR, then have a European entity, and process your transactions that way.
That said, they will pay a higher cost to acquire transactions from non-European cards, which might cancel out the lack of currency conversion fees.
Jun 25, 2019 - 09:13 PM
Well, PayPal changed it about 2 years ago where previously it was possible to withdraw in whatever currency you wanted and let my bank make the conversation (optimal).
Interestingly Braintree payment Processing platform, a PayPal company, still allows accepting payments in any currency and withdrawing in GBP for example where again my EUR bank makes the optimal conversation.
Processing fees are also half of PayPal within Euro zone. I would like point out that Braintree also allows for fees to be set by the customers credit card issueer which is almost always less then 1.7% (As oppose to a flat rate, which is half of PayPals to begin with).