I came into work this morning with literally no idea what the video was going to be about today. I have a list of topics, but nothing felt right and then I realized we haven’t really talked about currencies much. It’s part of a larger topic, Internationalization, and with what we’re doing with language support and the translator it only makes sense that we should discuss currencies.

Of course, a big part of currencies is multi-currency support and v2.5 has it, but it’s much improved in v3. In v2.5, multi-currency has to be explicitly enabled and everything revolves around the default currency. While v2.5 can accept payments in many currencies, clients are billed based on the exchange rate to the default currency. So, the biggest difference between v2.5 and v3 is that prices can be specified at the package level for each individual currency, effectively fixing prices. Only when a price is not available for the currency does the exchange rate come into play.

1. Prices can be set for each currency at the package level, which overrides the exchange rate.
2. Multi-currency doesn’t need to be enabled, just use it if you want to use it.
3. Exchange rates can be fetched from Foxrate, Yahoo Finance, or Google Finance.
4. Exchange rate updates can be disabled and exchange rates manually updated.
5. New package period options Day, Week, and Year in addition to Monthly and One Time.
6. Cancellation fees can be assessed and configured at the package level.

Interesting fact! With Day, Week, Month, and Year package period options now available, terms can range between 1 and 65535 (2¹⁶ – 1) which equates to 65535 * 4 + 1, or 262,141 possible service terms available. So much for just monthly, quarterly, semi-annual, and annual huh? Do your own thing.

The video is below, as usual you can make the video full screen, and be sure to turn on your sound.

Tags: currencies | multi-currency | pricing | v3 | version 3