Coming Soon: List Items and Receive Payments in Your Currency
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We're incredibly excited to announce the next big step towards supporting global commerce on Etsy. You will soon be able to list items and receive payments in one of 21 different currencies. This feature is starting to roll out today.
Here's how it works. In the Shipping & Payment section of Shop Settings in Your Etsy, there's a tab for Shop Currency. You can choose one of 21 currencies. We currently support the currencies that PayPal supports (details below).
When you submit a shop currency change, we convert your listing and shipping profile prices to the new currency using the most recent exchange rate from PayPal. You have the option to have us automatically round each price after the conversion so your prices don't look strange after the conversion.
Converting all of your prices can take up to an hour. We send you an email when you shop currency change is complete. Your listings are visible to shoppers and can be purchased while we convert them. However, you can't edit listings or shipping profiles while we convert your prices.
Once you change your shop currency, all new listings will be in your shop currency.
If a shopper's currency preference matches your shop currency, the shopper will only see prices in your shop currency. If a shopper's currency preference does not match your shop currency, on your listing pages and through Checkout, the shopper will see a price in your shop currency and an approximate price in their currency.
Shoppers pay in your shop currency. For PayPal transactions, PayPal takes care of the exchange from the buyer's currency to your currency.
All bills from Etsy are still in USD. If your shop currency is not USD, when you sell an item, you are charged 3.5% of the item price converted to USD at the time of purchase. The exchange rate data we use comes from PayPal and is updated every hour.
We currently support the following shop currencies:
* Australian Dollars (AUD)
* British Pounds (GBP)
* Canadian Dollars (CAD)
* Czech Koruny (CZK)
* Danish Krone (DKK)
* Euros (EUR)
* Hong Kong Dollars (HKD)
* Hungarian Forints (HUF)
* Israeli Shekels (ILS)
* Japanese Yen (JPY)
* Mexican Pesos (MXN)
* New Zealand Dollars (NZD)
* Norwegian Kroner (NOK)
* Philippine Pesos (PHP)
* Polish Zloty (PLN)
* Singapore Dollars (SGD)
* Swedish Krona (SEK)
* Swiss Francs (CHF)
* Taiwan New Dollars (TWD)
* Thai Baht (THB)
* U.S. Dollars (USD)
We have tested this feature with a few sellers and have already seen transactions in non-USD currencies. This feature is now live for 10% of members and we plan to roll it out to everyone by early next week.
If you have any questions, please post in this thread.
Posted at 5:54 pm Nov 17, 2010 EST