Latest news with #multicurrency
Globe and Mail
4 days ago
- Business
- Globe and Mail
99minds Launches Multicurrency Gift Card Solution for Shopify & Shopify Plus
99minds now empowers Shopify and Shopify plus merchants to issue and redeem gift cards in local currencies, transforming customer experience and cross-border commerce. NEW YORK , /CNW/ -- 99minds, the unified omnichannel gift card and loyalty platform built for modern commerce, proudly announces a groundbreaking milestone: the multicurrency gift card support for Shopify merchants. With this industry-first innovation, Shopify brands can now issue, redeem, and manage gift cards in multiple currencies, providing a seamless and localized experience for customers worldwide. "Until now, Shopify gift cards were locked to a store's default currency. 99minds changes the game by introducing multicurrency support, enabling merchants to go global without losing localization and value," said Pravin Kamble , Co-Founder & CEO of 99minds . Shopify merchants have struggled with gift cards limited to a store's default currency for years, frustrating global customers and restricting cross-border growth. 99minds' new Shopify app changes the game by allowing merchants to issue and redeem gift cards in local currencies (USD, CAD, EUR, GBP, AUD, NZD, SGD, HKD, and more) and automatically detect and convert currencies at purchase and redemption. The new Shopify app from 99minds also enables merchants to deliver a seamless, localized gifting experience for customers worldwide. With global e-commerce accelerating, offering a frictionless, localized experience has become non-negotiable. Multicurrency gift cards remove barriers for gifting and loyalty, boosting conversion rates and customer satisfaction. Merchants can now confidently expand into new markets, eliminate customer confusion over currency conversions, and increase sales during key gifting seasons worldwide. The major features of the 99minds multicurrency gift card solution include real-time exchange rates, ensuring accurate and transparent gift card values at the time of purchase and redemption. The platform offers easy integration with existing Shopify and Shopify Plus stores, requiring minimal setup and no disruption to current operations. With unified omnichannel support, merchants can provide a seamless gifting experience across both online and in-store channels. Additionally, 99minds delivers comprehensive reporting capabilities, providing businesses with full visibility into multicurrency transactions and enabling them to make data-driven decisions. Beyond Shopify, 99minds partners with Blackhawk Network to enable gift card sales across 500,000+ retail locations in 28 countries. It also integrates with top processors, including Givex, Shift4, Fiserv, Clutch, and Paytronix, and supports redemption across Shopify Stores. Looking ahead, 99minds aims to deliver a unified gift card redemption API for AI agents, enabling seamless gift card redemption across shopping assistants like ChatGPT and Perplexity AI. The 99minds multicurrency gift card and loyalty app are available now on the Shopify Multicurrency. Shopify and Shopify Plus customers can begin enabling multi-currency support immediately. About 99minds 99minds is a global leader in omnichannel gift card, loyalty, and stored credit solutions. Serving hundreds of brands worldwide, 99minds helps merchants drive engagement, retention, and revenue through innovative technology.
Hospitality Net
07-05-2025
- Business
- Hospitality Net
Embedded Payments with Multicurrency Pricing: Your New Hotel Revenue Stream
Picture the scene: an international guest is on your website, ready to book a room. But they're staring at a total in your hotel's local currency, and they don't understand it. Confused, they hesitate. Some abandon the booking, while others proceed, only to face surprise conversion charges from their bank. It's an experience no guest wants, and one that costs hotels in terms of lost revenue through conversion fees, or worse, lost business. There is another way. Multicurrency pricing is a Mews Payments feature that transforms how hotels handle international transactions. It empowers hotels to offer seamless, transparent pricing in guests' preferred currencies. And it doesn't just give your guests more payment satisfaction – it allows you to make money on the conversion, creating a whole new revenue stream that previously belonged to the banks. Here's how it works. Multicurrency: more options, better experience Multicurrency is a new, dynamic currency conversion feature that gives international guests the option to pay in their home currency or in the local currency of the hotel. And to do so at any point in the journey, whether they pay at booking, arrival or departure. For guests, this provides clarity, transparency, and confidence. Instead of trying to mentally convert currencies or googling 'USD to EUR' mid-booking, guests can instantly understand how much they're paying. And they won't get hit days later with surprise foreign exchange fees from their bank. For hotels, it's not just about improving the guest experience. It's also about driving more revenue. How Multicurrency drives revenue When guests choose to pay in their home currency through the Mews platform, the hotel keeps a portion of the conversion fee – revenue that would otherwise go straight to the guest's issuing bank. It's a win-win: the guest gets a transparent rate with full visibility, and the hotel unlocks a new revenue stream. What's more, this added clarity has a real impact on conversion. A recent study found that offering local currency payment options can boost booking conversion rates by up to 10%. When guests understand the price immediately, they're more likely to complete the booking, and real-time FX disclosures during payment helps build trust. Happier guests, happier hoteliers. It's clear that Multicurrency is an attractive proposition for any hotel with international guests. But without a modern payment setup, Multicurrency revenue is difficult to capture. So let's take a step back and consider your hotel's payments processes as a whole. The Uber effect in hospitality payments At Mews, payments aren't just a back-office function. They're fully embedded into the guest journey. Embedded means payments are woven into every step of the guest experience, from check-in to check-out, and even in the event of a no-show. Much like how Uber eliminated the awkward exchange of cash or cards at the end of a taxi ride, Mews does the same for hotels. Guests provide their payment details once, and from that moment forward, their information is securely tokenized and stored. There's no need to ask again. No friction. Just seamless transactions that support a smoother, more modern guest experience. But the real shift is behind the scenes. Embedded payments don't just streamline guest interactions – they drive operational efficiency, improve cash flow, and reduce revenue leakage due to unpaid balances and no-shows. More on that below. Why embedded beats integrated Integrated solutions connect external systems with your PMS, but they still create silos and complexity. Embedded payments, on the other hand, live inside the system. Everything from card tokenization to reconciliation happens in one place. That's a big deal for front office teams who no longer need to chase down unpaid bills or manually input payment details. This means that staff are given back huge amounts of time, which can now be spend helping customers instead of checking payments. And the benefits extend far beyond the front desk. With automation and intelligent workflows, embedded payments can also dramatically reduce time spent on back-office tasks, freeing up staff to focus more on strategy and growth, and less on admin. Chasing declined or missed payments is an unnecessary time drain for your teams, and one that can cause stress through uncomfortable follow-up calls. With embedded payments, those days are over. The system securely stores card information and enables hotels to charge the card even after departure, if needed. It's safer for guests and far more efficient for hotels. No-show rates dropped by over 5% when hotels used embedded payments that allow automatic charging of a guest's card once the cancellation window closes. That's not just added convenience – it's reduced revenue leakage and improved cash flow. An exciting future for hotel payments Whether you're a revenue manager, general manager or hotel owner, the message is clear: embedded payments are no longer just a necessity, they're a strategic foundation. And features like Multicurrency show just how much revenue opportunity is unlocked when payments are fully embedded into the guest journey. Hotels that adopt embedded, automated and guest-friendly payment solutions will operate more efficiently. They'll also enhance the guest experience and unlock new revenue opportunities. Is your hotel ready to make payments a strategic asset? To learn more about embedded payments and dynamic currency conversion, watch the full episode of Matt Talks, where Mews CEO, Matt Welle, is joined by Mews General Manager of Fintech, Susanne Sandler. Watch the episode About Mews Mews is the leading platform for the new era of hospitality. Powering over 12,500 customers across more than 85 countries, Mews Hospitality Cloud is designed to streamline operations for modern hoteliers, transform the guest experience and create more profitable businesses. Customers include BWH Hotels, Strawberry, The Social Hub and Airelles Collection. Mews was named Best PMS (2024, 2025) and listed among the Best Places to Work in Hotel Tech (2021, 2022, 2024, 2025) by Hotel Tech Report. Mews has raised $410 million from investors including Growth Equity at Goldman Sachs Alternatives, Kinnevik and Tiger Global to transform hospitality.
