Before we get started, it’s helpful to understand the difference between presentment and settlement currencies.
- Presentment currency: The currency displayed to customers. By default, transactions will be presented in your home currency (the one associated with your merchant account). Depending on your account setup, you may be able to choose additional presentment currencies from the full list of Braintree-supported currencies here.
- Settlement currency: The currency in which funds will be deposited into your bank account. Depending on your account setup, you may be able to settle only in your home currency, or you may have the option to settle in multiple currencies. Typically, available settlement currencies are limited to the major currencies in your region.
Regardless of the currency you present in, customers should be able to purchase from you. For the simplest setup option, see Single-currency setups below. However, if your business caters to international customers, you may want to consider presenting and/or settling in multiple currencies – more on that under Multi-currency setups.
By default, transactions will be presented and settled in your home currency, and if necessary, the customer’s bank will convert the charge to the customer's home currency. This method requires no additional work to set up, and if most of your transaction volume is domestic, this is all you need.
However, when customers make purchases in currencies different from their home currency, their banks often charge them an additional conversion fee. In addition, it becomes more difficult for you to process refunds for these customers, which can lead to an increase in chargebacks.
If you have a large base of international customers, it can be tempting to display a converted price to customers but still charge the transaction in your home currency; however, we don’t recommend this. Rates change frequently, so it’s nearly impossible to predict the converted amount that a customer will actually be charged.
Similarly, if the exchange rate changes between when you process a transaction and when you refund that same transaction, the customer's refund will not match the amount they originally paid. To avoid these complications, we recommend setting up your account for multi-currency transactions.
Merchants can reduce friction for their customers by requesting an additional merchant account to present in one of the 130+ local currencies that Braintree supports. When a customer makes a purchase in a presentment currency that's different from your settlement currency, the transaction amount will be converted to your settlement currency before being deposited.
If you process a lot of transactions in the same few presentment currencies (e.g. USD, GBP, and EUR), you may also want to settle transactions in those currencies so you can decide when the exchange rate is the most favorable for converting the funds to the currency you prefer. Depending on where and with whom you bank, you may need to have a business bank account in each settlement currency. For more details and assistance setting up multiple presentment and/or settlement currencies, contact our Accounts team.
Once your additional currency is set up, the last step is updating your integration to specify the new Merchant Account ID for your additional currency.
When you set up your sandbox for the first time, your account will default to processing in one currency (usually the major currency in your region). If you’d like to try out other currencies, you can create new merchant accounts in the sandbox and specify which currency you would like to test for each one.
- Navigate to Settings > Processing
- Scroll down to Merchant Accounts
- Click the New Sandbox Merchant Account button
- Enter a Merchant Account ID
- Select the currency you’d like to test in
From here, you can also enable PayPal payments, set the new merchant account as your default account, or set it as a Braintree Marketplace master merchant account. If you choose to enable PayPal, your choice of currencies will be limited to those that PayPal supports.
While the sandbox is designed to simulate how the gateway functions in production, production is more limited. For example, in the sandbox, you can enable PayPal and multiple currencies on a Braintree Marketplace account; in production, Braintree Marketplace is not compatible with PayPal or currencies other than USD. If you have any questions about limitations in production, feel free to contact us.