This feature enables you to use currencies other than USD.
Bolt supports multi-currency for qualified merchants, as well as display VAT at checkout to inform shoppers of all fees in their local currency.
Features
Presentment currency: The currency that the shopper sees and uses to pay for the purchase. Your checkout type, ecommerce platform, and payment processor must support the presentment currency you choose.
Settlement currency: The currency in which the merchant receives the funds paid out. Your payment processor must support the settlement currency you choose.
Bolt Payments
For presentment: Choose a supported presentment currency. Make sure your checkout implementation and ecommerce platform support this currency.
For settlement: Bolt settles payout funds in USD to the merchant’s US-based bank account.
- The cart notifies Bolt of the amount and currency used during checkout. Bolt transmits this transaction data for processing.
- Once the transaction successfully authorizes, the customer is charged using the amount and currency sent from the cart.
- To settle, Bolt estimates what the customer will pay in USD. Bolt pulls the previous day’s average exchange rate and converts the amount paid in a foreign currency into USD funds for settlement. The payout that Bolt makes to merchants may not be equivalent to the amount charged to the customer.
Checkout Types
Review Supported Presentment Currencies for Bolt Checkout & Accounts.
You may need to complete additional setup steps on the platform for your selected presentment & settlement currencies.
Third-Party Payment Service Providers
For presentment: Choose a presentment currency supported by your payment service provider. Make sure that your checkout implementation and ecommerce platform also support this currency. You may need to complete additional setup steps with the processor.
For settlement: Your payment service provider settles funds to your bank account in the currency you selected.
Checkout Types
For presentment: Review Supported Currencies for Bolt Checkout & Accounts.
For settlement: Settlement currency is independent of Bolt checkout types.
You may need to complete additional setup steps on the platform for your selected presentment & settlement currencies.
Enable Multi-Currency
After you determine which currencies you’d like to use, reach out to your Customer Success Manager to get started with multi-currency. It can take approximately one week for our team to adjust your account’s currency settings.
VAT
By default Bolt displays Tax at checkout. To change this to VAT, contact your Customer Success Manager and ask them to enable the **EnableVATIncludedNotice** division feature.