Publish Date: Wednesday, October 24, 2007
We are glad to announce that, in the very beginning of November, ResellersPanel will launch two major upgrades to its reseller web hosting billing processing system. They include a new order processing system and a multi-currency billing and payments solution.
New Order Processing System
The new billing system was developed because of the need for establishing a secure payments procedure that supports various currencies. We've come to a conclusion that PayPal is the billing processor that fits our needs best, and that's why the new billing system will use their payment processing services for usual payments by PayPal members (express checkout) and for payments with credit and debit cards. We are not going to use the services of WorldPay anymore, but we will keep using 2Checkout for credit and debit card payments processing purposes as an alternative option in the event of a problem with the PayPal credit/debit card payment gateway. This means also that all payment forms, signup pages, etc. have been reworked in order to meet the requirements of the new system.
Multi-Currency Billing and Payments Solution
The multi-currency solution will allow each hosting reseller of ours to offer web hosting and domain registration services in USD, EUR, GBP, AUD and CAD currencies on their web stores, as well as in their clients' Web Hosting Control Panel. The customers will be able to continue to pay in any of these currencies, but the resellers will select the main store currency. The main benefit of this solution is that the advertised currency will match the needs of each reseller's target group better, thus making the hosting offer more adequate to the local markets.
At the same time, the resellers will be able to choose the currency for their commissions. The profit from each sale will be re-calculated in the selected commission currency, which can be different from the default store currency, and will be paid through any of the payment methods that are available - check, PayPal or bank wire.
A very important part of the multi-currency solution is the definition of the currency exchange rates. These currency rates will be used for web store and reseller commission price calculation purposes. The exchange rates will be updated on a weekly basis. Certain fees that must cover our expenses for payments in currencies different from USD will be deducted in the process of the final price calculation as well.
The complete information one needs to know to take advantage of the multi-currency solution will be available in the Reseller Control Panel. There, our resellers can review the various explanations, examine the table with the currency exchange rates and the way it works, and see examples of calculations in cases when 2.5% and 15% fees are incurred during the conversion.
Hopefully, this will be the last preliminary news concerning the release of the multi-currency system. We will let you know as soon as major upgrades are launched.
