Describe currency conversion.

Describe currency conversion.

• A. It happens only at settlement.
• B. It uses a fixed rate set by the merchant.
• C. It occurs whenever presentment currency differs from settlement currency, using the daily exchange rate at purchase time including Stripe fees.
• D. It is not supported.

Answer: (C)

Currency conversion happens whenever the currency presented to the customer (presentment currency) is different from the currency the merchant receives in their Stripe account (settlement currency). If a payment is made in a currency other than the settlement currency, Stripe converts the amount using the daily exchange rate in effect at the time of purchase and applies Stripe’s currency conversion fee. The merchant then receives the converted amount in the settlement currency. This means conversion isn’t limited to settlement only, and it isn’t based on a fixed rate set by the merchant. It’s also a supported process, so multi-currency payments can flow through with an FX rate applied at purchase time.

Currency conversion happens whenever the currency presented to the customer (presentment currency) is different from the currency the merchant receives in their Stripe account (settlement currency). If a payment is made in a currency other than the settlement currency, Stripe converts the amount using the daily exchange rate in effect at the time of purchase and applies Stripe’s currency conversion fee. The merchant then receives the converted amount in the settlement currency.

This means conversion isn’t limited to settlement only, and it isn’t based on a fixed rate set by the merchant. It’s also a supported process, so multi-currency payments can flow through with an FX rate applied at purchase time.