With SCD, our plugin for managing currency conversion for single-vendor sites (sites in which the seller has only installed woocommerce) and multi-vendor sites (sites in which a marketplace plugin is installed: dokan, wcfm, wcmp , wc vendors), it is possible to generate profit margins on each sale in addition to the revenue linked to the sale.
The steps to follow are quite simple, we will illustrate them here:
- Download the free version of scd by going to this link: https://wordpress.org/plugins/scd-smart-currency-detector/
2. On our site, you can test SCD for 14 days, by visiting on the following link:
When you land on the page where you can test our plugin, you will need to: 1 enter your email and a password
Then you have to fill out the form, inserting data such as your name, country, website …
Finally, you will choose the variant of our plugin that suits your case :
Now let’s move on to the operational part once SCD is activated on your site :
As you can see in the above screenshot, our plugin is located in the woocommerce tab.
After clicking on the SCD icon, it is possible, as in part 1 of the screenshot below, to define a default currency, which will be the marketplace currency. Then, as it is possible to see in part 2, it is possible to define a fixed conversion rate between two currencies. This has the advantage of avoiding price fluctuations due to conversion rates. Earnings also will not fluctuate with changes in exchange rates.
After having defined the conversion rates between two currencies, it is possible, as you can see in part 3 of the screenshot below, to set an additional rate which can go up to 10% which will be the margin that will constitute our additional cash.
If you sell worldwide, you can do currency mapping. In other words, you can for all the currencies of the countries in which your products will be sold, define a conversion rate and also define a margin in addition to the conversion rate.