On 8/08/2016 12:23 PM, Ali khan wrote:
Thank you Babutunde,
So you are saying that the price = models.DecimalField(max_digits=20,
decimal_fields=2) will automatically sense it that what currency it is
or if someone wants to pay me in different currency how would a payment
processor will change currency value?
Also I need my currency to be localized upon the location of access. For
example if my client is in US he should get USD based prices and if
someone in Japan he should see Yen. How would I do it?
There are two sides to this coin ;)
Your probable ideal solution is to use an account with a bank which will
do all your currency conversions automatically for the bottom twenty
percent of your transactions and keep certain other accounts denominated
in the currencies of the major proportion of your transactions. But
ideal may not be practical. All foreign exchange transactions attract
bank fees.
You will need a price setting mechanism as well. If you set a selling
price in one currency, how will you decide on the exchange rate to use
to calculate the other selling prices?
How frequently will you update your selling prices?
These are both hard questions.
Most larger firms force their customers to buy in a one of a few stable
currencies which normally don't move very quickly against each other.
That lets them take out forward exchange contracts to hedge or lock-in a
given conversion rate at some point in future for a given amount.
A smaller firm would most likely choose just one stable currency and
force all buyers to pay in that currency.
Probably not answering your question but I hope that helps
Mike
Regards,
Ali
On Sun, Aug 7, 2016 at 3:01 PM, Babatunde Akinyanmi
<tundeba...@gmail.com <mailto:tundeba...@gmail.com>> wrote:
Hello Khan,
Your payment processor will specify in its API how it determines
currency. This is not a django problem. I'm sure the answer to your
question lies in the documentation of Stripe and Braintree
On 7 Aug 2016 18:46, "A.Khan" <alipathan123...@gmail.com
<mailto:alipathan123...@gmail.com>> wrote:
Hi I am new to Django and I need to implement multiple currency
options based on user's preference. What I don't understand that
let's say I am in Pakistan and I've used in my template simply
<h3>PKR {{ object.price }} </h3>.
Now I need to understand how would a payment processor will
determine what currency I am using for example if I am using
above tag and someone needs to pay me with localized currency
equaling to my currency amount using Credit Cart or whatever.
Secondly I need to implement multiple currencies that user can
select currency option for payment. Can you please tell me the
simplest way possible to achieve it.
This is not a necessity at this point but just in case I need to
implement a use case that Django provides localized currency
automatically if website accessed from a particular location
what do I need to do.
I need to implement Braintree and Stripe with Paypal and Credit
cards both for testing on two different projects. As I said I am
a beginner so not sure if its a qualified question.
Please advise.
Thanks.
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