International merchant account services...exchange rate conversions...

Question

I'm not sure if this is where to post this but I couldn't find any answers. Hoping some developers have run accross this before.

I am building a subscription based product that can be used internationally. I would like to offer the subscription in the foreign currency of the customer. I have contacted a couple of merchant account services and they will transact a credit card from another country and deposit the money in USD into my bank account (Im in the US). However the problem is how they do the currency conversion.

Say I want to have my customer in the UK sign up for a monthly subscription price of 65 GBP. Every month my UK customer expects the statement to be 65 GBP, but the US merchants I've looked at can't do this. They want me to send them a file with say $100 USD and based on that day's exchange rate they will charge the UK credit card for 62 GBP one month, then possible 64 GBP another month, or 68 GBP another and then deposit the $100 into my USD bank account.

Is there a merchant account out there that will provide international transactions, but do the exchange conversion the other way? In other words, charge the UK customer 65 GBP then deposit say $97 into my US bank account...i'm ok, with having the deposits into the bank account fluctuate, i'm more concerned for international users being charged the same price each month and not having it fluctuate, because this is what I would want as a customer.

Is this possible? How are others handling international customers and foreign currencies?

Answer 1

Edit

Just read your question again. Well, I think that's exactly how banks work. You put GBP 65 and if your account is in USD, you will receive converted value.

Irrelevant

I don't think that will answer your question (as it regards to specific business problem), but there is actually service that serves exchange rates.