🌐 Currency Presentment Overview

Currency presentment allows merchants to define how transaction amounts are displayed and processed for payers. This includes:

• Setting the base currency (used by Approvely to calculate the total purchase price)
• Specifying the presentment currency (currency seen and paid by the payer)

⚙️ Configuring Currency Presentment

When initiating a card transaction, merchants must configure two key elements:

1. Base Amount and Currency

The merchant must pass a subtotal and currency. This defines the purchase price in the merchant’s chosen currency.
All calculations, including foreign exchange (FX) fees, are based on this amount.

2. Presentment Currency

The merchant can optionally specify a presentment currency, which is:

• The currency the payer sees at checkout
• The currency the payer is charged in

If the presentment currency differs from the base currency:

• An FX conversion is applied
• FX fees are added

If no presentment currency is specified, the currency from the subtotal is used.

📘

Note: Rapid currently supports only:

• USD as the base currency, or
• The same currency for both base and presentment

✅ Example Supported Scenarios

• subtotal: 2, currency: USD, presentment currency: SGD
• subtotal: 2, currency: SGD, presentment currency: SGD

❌ Example Unsupported Scenario

• subtotal: 2, currency: PHP, presentment currency: SGD → Not supported

🔄 Example Workflow

A merchant sets:

amount: 200,
currency: "USD",
presentment_currency: "SGD"

 

Rapid calculates the equivalent SGD amount using the current exchange rate.

The payer sees and pays in SGD.

The merchant receives funds in USDC, with applicable FX and Rapid fees deducted.

🧠 Key Considerations

If currency = presentment currency, no FX conversion occurs.

If they differ:

Real-time FX rate is applied.

FX + Rapid fees apply.

Choose a presentment currency that aligns with your customer's expectations.