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Automatic Currency Conversions for Non-USD Shopify Stores
Automatic Currency Conversions for Non-USD Shopify Stores

Introducing Automatic Currency Conversions for Non-USD Shopify Stores

Ana Lopez avatar
Written by Ana Lopez
Updated over a week ago

Introducing Automatic Currency Conversions for Non-USD Shopify Stores

We’re excited to introduce an automatic currency conversion feature for Non-USD Shopify Stores. Now, any sales order using a Promo Code that was captured in Sales Tracking will be automatically converted from your Shopify Store Currency to USD, based on the prior day's closing exchange rate, for precise tracking and payout calculations.

How it Works

All Shopify stores have a default Store Currency - this is the currency that you use to set prices for your products and product variants in your Primary market, and it's the currency that appears in your reports.

With this update, Aspire will now detect your Shopify Store Currency and automatically convert the currency to USD, then show the converted values in your Sales Tracking dashboard. For stores where the Store currency is USD, there are no changes.

Feature Overview

Automatic currency conversion

Every sales order using a Promo Code that is tracked by Aspire as a part of a creator-brand collaboration will be automatically converted from your Shopify Store Currency to USD based on the prior day's closing exchange rate.

All payouts are made in USD

All payout calculations will remain in USD. Our system uses the converted USD equivalent for the order data to calculate the payouts owed to a creator.

Updated Sales Tracking and Impact Dashboards

Sales tracking dashboards will show both Shopify Store Currency and USD equivalent. The Impact dashboard and other areas of the platform (i.e. Member Details and Payments) will only show the USD values.

Important Note: These updates only apply to Promo Code Offers and do not apply to Link Tracking Offers. To set up multiple currency support for Link Tracking Offers, please see this help article.

Frequently Asked Questions

What currencies are supported?

We currently support 5 currencies in addition to USD:

  1. EUR (Euros)

  2. CAD (Canadian Dollars)

  3. GBP (UK Pound Sterling)

  4. AUD (Australian Dollars)

  5. CHF (Swiss Franc)

Is there a way to see the Store Currency and USD values?

Yes! You can click on the “View Store Data Conversion” icon within a promo code offer to see the USD values and the original Store Currency values. Note: Once this feature has been enabled, the icon will not appear until a new transaction happens in a non-USD currency.

What currency is the Payout calculated in?

Payouts will remain in USD. Payout is calculated on the basis of the USD converted values.

Are Payouts calculated at the time of payment or when the order was processed?

Payout values are calculated for each conversion. This means that when an order is received, Aspire will convert the sales amount from your Shopify Store Currency to USD and then calculate the appropriate commissions based on the offer settings.

What if our Shopify store uses multiple currencies for transactions? How does this work?

Even if your Shopify store supports multiple currencies, the APIs from Shopify will always send us the data in your Shopify Store Currency - this is what we are using to do the conversion. See this article for more details on how Shopify performs conversions from local currency to Store Currency.

What happens if our Shopify store's default currency changes after we connect it to Aspire?

If this happens, all future conversions will be based on the exchange rates for the new Store Currency to USD. Previous transactions will remain unchanged in Aspire.

Is the exchange rate applied uniformly to all orders, or does it vary based on the source of the order or other factors?

Exchange rates are uniformly applied based on the previous day’s exchange rate. It does not vary based on any other criteria.

If we have our own internal exchange rates, can we use those instead?

No, we cannot customize the exchange rates per brand. Aspire uses Exchange Rate APIs for tracking and performing conversions.

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