Paypal exchange rate differ from ZenCart's

[ingoito]

Hi,

I´m using ZenCart 1.3.8a for downloads and have Paypal as the only payment method.

Default currency is US $, but I also have Euro and GB Pound. When I update the exchange rate in admin, I've got at the moment an exchange rate from US $ to Euro of 0.81889498. Selling a download for US $ 1.15 is shown as EUR 0.94 in the store.

A customer just informed me, that he had chosen Euro as currency in the store and when he made his purchase a few minutes ago, the actual Paypal exchange rate was 0.759734. He was complaining, that this would be in US $ 1.24 - a much higher price than shown in the store.

How can I adjust the ZenCart exchange rate, so that it matches the Paypal exchange rate?

Ingo

[bunyip]

Transaction gateways will almost always use a lower value for exchange rates than you see when you update your currencies.
Thankfully, there is a means to modify your rates by a set value from Admin:
Admin > Configuration > My Store > Currency Conversion Ratio

The default value is 1.05, but you can adjust that value, then go to your currencies page and update rates again. Maybe try 1.10 and see how close the rate comes to Paypal's.

[Kim]

Are you only accepting USD in your PayPal account?

[ingoito]

Hi bunyip,

thanks for the info. I checked this parameter and when I set the conversion ratio to 1.00, I´m only a little bit higher than PayPal's exchange rate - that´s okay.


Hi Kim,

I´m accepting both currencies in my PayPal account. I think, it's just a different source PayPal is using for their exchange rate.

Thanks again
Ingo