This is a question we receive a lot at Paddle, so we decided to write a guide about it as it’s a misunderstood topic that can significantly affect your conversion rates. A common reason we hear from customers about not enabling more currencies is that they don’t want to deal with the perceived extra work of handling them. This is the first myth we would like to dispel: enabling additional local currencies on your products does not mean you need to handle those currencies, that is what Paddle is here for.
When you enable a local currency, this means that your customer can pay for your product using their own currency, we process this for you, and add it to your account balance (Paddle will determine an exchange rate at the time the order is processed). There are no extra steps or requirements on your side and by doing this, you’ve made it 100% easier for your customers to understand what they are paying which leads to a higher conversion rate!
Let’s take an example from Brazil. With local currencies disabled, when your customer goes to pay, rather than seeing the Brazilian Real, they will see your account's default currency (US Dollar, Euro, Pound Sterling). This makes it difficult for them to understand the ‘real’ cost they are paying and can be a significant factor in them abandoning their checkout.
Enabling local currencies lets your customers pay using their own money without penalty.