Understanding how currencies work within our payment system is crucial in managing your payment flows. This article clarifies key currency terms used in our documentation and how they impact your transactions.
Presentment currency
Most often, the term “currency” refers to the presentment currency. This is the currency displayed to the end user and the one they are charged in. In our payment interfaces, the available currency inputs refers to the presentment currency.
Example: If an end user in the US buys a product priced in EUR, the presentment currency would be EUR.
Settlement currency
This is the currency in which funds are deposited into your Xendit account. Xendit will settle currencies based on the available currency balances in your account. If you do not have a currency balance that is the same as the currency of an incoming payment settlement, Xendit will auto convert the payment to one of your available currency balance.
Example: If you only have a Xendit SGD currency balance, and you receive a payment in IDR, the IDR will be converted to SGD before being deposited.
Fund source currency
This is the currency of the end user’s payment method (e.g. their bank account or credit card). In credit cards or SEA QR codes, an end user can be charged a presentment currency that is different than their fund source currency. These payment method providers usually perform an automatic foreign exchange conversion for their users to complete the payment.
Example: An end user may pay for a QRIS purchase in IDR using an SGD denominated mobile banking app. The bank handles the FX on behalf of the end user.