[NEW] Multi-Currency Addon: Calculate Affiliate Commissions from Any Currency

Do you manage an online store that accepts multiple currencies at checkout?

When transactions occur in currencies different from your affiliate program’s base currency, accurate commission calculations become challenging.

Introducing the new Multi-Currency addon that’s here to solve this frustration. 

It detects the transaction currency and converts commissions to your program’s base currency using real-time exchange rates.

This ensures precise commission calculations for every sale, regardless of the transaction currency.

Keep reading to see how this feature enhances your global affiliate program and simplifies your operations.

Accurate Commission Calculation Across All Currencies

Managing an affiliate program when your store operates in multiple currencies can be complex. 

The main challenge is ensuring accurate commission calculations when customers purchase in different currencies.

Consider this scenario:

Your online store accepts multiple currencies, and your affiliate program is set to USD.

A customer from Europe purchases a product for €100 EUR.

Your affiliate commission rate is 10%.

Without proper currency conversion: 

AffiliateWP would calculate 10% of 100, resulting in a 10 commission. It doesn’t consider the currency code, so this 10 would be treated as if it were in your program’s base currency (USD in this case), which doesn’t accurately reflect the true value of the commission in EUR.

This is where the Multi-Currency addon comes into play. 

Here’s how it works:

1. AffiliateWP detects the order total of €100 EUR.
2. Calculates 10% of the order total, arriving at €10 EUR.
3. Converts €10 EUR to USD based on current exchange rates.
4. The final commission would be $11.04 USD based on the exchange rates.

This ensures that regardless of the purchase currency, the affiliate commission is always accurately calculated and displayed in your affiliate program’s currency (USD in this case).

The Multi-Currency addon automates these conversions ensuring affiliates are compensated fairly based on the correct currency exchange.

Seamless Integration with Popular Currency Switcher Plugins

The Multi-Currency addon seamlessly integrates with the currency switcher plugins you’re already using. 

It works in the background, automatically ensuring that every affiliate commission is correctly calculated without disrupting your existing setup.

No more manual adjustments or second-guessing if commissions are accurate.

For a deeper dive into how to use the addon, be sure to check out our detailed documentation. 

Save Time with Automated Currency Rate Management

Accurately calculating affiliate commissions across multiple currencies can be challenging, especially when exchange rates fluctuate. 

The Multi-Currency addon simplifies this process by offering an automated solution that ensures your commissions are always accurate without requiring constant oversight.

You can automate exchange rate updates by easily connecting your store to a reliable, free service like ExchangeRate-API. 

This means:

• No manual entries: Save time and reduce errors by letting the updates be handled automatically.
• Real-time accuracy: The exchange rates are always up-to-date, ensuring that your commissions reflect the most current values.

With this automatic setup, the addon allows you to focus on growing your business by managing everything for you.

For more detailed instructions on setting up automated currency rate management, check out our documentation here.

Manual Exchange Rate Control for Precision

While automatic updates offer convenience, there are situations where you might want complete control over your exchange rates. 

The Multi-Currency addon also allows you to manually manage exchange rates, allowing you to set rates according to your business needs.

Here’s why you might choose manual control:

• Custom Exchange Rates: If your business operates with specific rates that differ from the market, you can set these manually to ensure consistency across all transactions.

• Stability: In times of fluctuating exchange rates, you might prefer to lock in a rate to avoid sudden changes impacting your commissions.

For step-by-step guidance on setting up manual exchange rates, refer to our detailed documentation.

Transform Your Global Affiliate Program Today

The Multi-Currency addon is available exclusively for AffiliateWP Plus and Pro plan customers.

Activate it today to experience accurate, hassle-free commission calculations across multiple currencies.

New to AffiliateWP? There’s no better time to join. 

This addon is just one part of our comprehensive suite designed to simplify affiliate management and help your program succeed from day one.

Get AffiliateWP Plus or Pro Today

What features would you like to see next? Share your ideas in the comments or reach out to our dedicated support team.

Let’s grow your global affiliate network together!