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Multiple Currency for Volusion

without comments

Volusion misleadingly advertises that it supports multicurrency.  What I mean by misleading is that it can display different currencies on your website as long as you manually enter an exchange rate into your control panel’s configuration.   But when the customer check’s out, Volusion will only process the payment against one merchant account at a time

As a consequence, the following is not possible:

You want to have two merchant accounts: one for Canadian transactions where it settles payments in CDN, and one for American transactions where it settles payments in USD.   If your Volusion customer is Canadian, then Volusion should process his payment against the Canadian merchant account.  If your Volusion customer is American, then Volusion should process his payment against the American merchant account.

The example above is not possible because Volusion only let’s you associate one merchant account at the time of setting up your online store.

We haven’t found a solution to this problem.

How Magento and BigCommerce, other shopping cart systems, solve the problem are that they allow you to bind multiple merchant gateways to the system. So you can add beanstream, paypal, moneris etc… When the customer checks out, they can choose which gateway they wish to pay with. I wish Volusion could do the same thing.

Written by John Lai

November 30th, 2010 at 3:57 pm

eCommerce: PayPal and Beanstream

with 2 comments

UPDATE: I wrote this a while back, so skip to the bottom for more up to date info

I recently made a comparison between Beanstream and PayPal. This is my report. I welcome any opinion.

I’ve done extensive research into both products and can conclude that both offer the same services, but at different prices. From my experience, there’s no real pro vs. con between Beanstream and PayPal. It’s a matter of selecting the best price plan for your business. A business’s monthly online sales volume will determine which price plan is right for you, and consequently, help you decide between Beanstream and Paypal.

When talking about costs, the price plans Beanstream and PayPal offers vary. But all plans consist of the following fees:

- Set up fee (between Free – $100)
- Monthly fee (between $20 – $70)
- Transaction fee (between $0.20 – $1.00 per transaction)
- Merchant account fee (between 2% – 4% per transaction)

Beanstream and PayPal collect the setup fee, monthly fee and transaction fee. The bank dealing with credit cards collects the merchant account fee (when you go to a store and pay by credit card swipe, there is a 2% to 4% charge to the store owner…the merchant account fee is this fee)

All other things compared: everything Beanstream does, PayPal does, and vice versa. They both provide easy to use API and documentation for programmers. They both have easy to understand CMS for managing finances.

So that’s the nutshell and everything in it.

UPDATE: December 13, 2010
Actually, the biggest difference between Beanstream and Paypal is support. Beanstream is much more timely in terms of support. Paypal support is terrible…you have to post in forums and wait hours for an OP to post short un-descriptive answers. Also, paypal documentation is terrible, which I’ve written about here:

Written by John Lai

November 27th, 2008 at 12:09 am

Posted in Uncategorized

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