The global e-commerce market is expected to exceed US$5 trillion in revenue this year, with ECDB forecasting US$5.31 trillion in 2026, and current forecasts suggest that US$5.00 trillion by 2030 is too low.
Speaking of, 8 in 10 companies polled by MillTech experienced losses from unhedged currency positions in 2025, with US firms losing an average of US$9.85 million and UK firms losing an average of £6.71 million. Some companies reported losses exceeding $25 million.
On one hand, there’s a rapidly growing e-commerce market, and on the other hand, many external factors that can be harmful to it.
For global merchants and cross-border payments specifically, there has been a solution for some time – a multi-currency merchant account.
A multi-currency merchant account by itself is a business payment account that allows you to accept, hold, and manage funds. It is designed to do it. The multi-currency version allows you to hold all client currencies, rather than forcing every transaction through currency conversion.
In this article, we’ll break down exactly why these matters matter, how they impact your bottom line, and how solutions like Genome are making cross-border payments simpler than ever.
Boosts international conversion rates
Customers have been “taught” for years to notice “nice” price tags – rounded numbers or classic $9,99, etc.
But when a German customer lands on your site and sees prices only in USD, that carefully chosen $99.99 may turn into €86.28. Instead of looking clean and deliberate, the price feels odd, unfamiliar, and potentially misleading.
This is where sticker shock begins, one of the most common silent killers of cross-border e-commerce conversion.
Even if they’re interested, they now must mentally convert the price and shipping cost, and that friction often leads to hesitation or outright abandonment.
A multi-currency merchant account combined with local-currency checkout or presentment helps solve this. Customers can see prices and often pay in their local currency, which:
Reduces confusion
Creates a smoother checkout experience
Removes additional fees in some instances
For global merchants, this directly translates into higher conversion rates and fewer abandoned carts. It’s a simple shift, but the impact is massive.
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Reduces foreign exchange (FX) fees and conversion costs
A cross-border payment that passes through a standard merchant account can sometimes trigger a currency conversion or two.
For example, a customer pays in euros. The payment processor may convert the payment into dollars to settle with the merchant. And the merchant may then choose or need to convert back to euros to pay a European supplier.
Exchange rates move constantly, and the FX rate and conversion fees applied when funds are converted into the merchant’s settlement currency can meaningfully affect a merchant’s realised revenue. A business that is forced to convert foreign currency immediately after every transaction has little flexibility over timing and must accept the provider’s FX terms at that point.
A business using multi-currency settlement, or a multi-currency account that is supported by the provider, that collects euros from European customers can pay euro-denominated costs directly from that balance, with no conversion required. The same principle applies to other supported currencies.
Over time, and especially at volume, the savings from avoiding these FX fees can be substantial.
Protects against currency volatility
Another major problem is market uncertainty. Typically, you will use your lead currency for business, and prices are quoted in that currency, while other currencies are adjusted based on the lead currency.
But now, high volatility is really hurting many businesses around the world, and you just cannot predict exchange rates.
A multi-currency merchant account eliminates this. By holding funds in the same currency they were received in, merchants can match income to outgoings in like-for-like currencies.
With a multi-currency merchant account, businesses can hold foreign currency balances and convert them on their own schedule. If rates are unfavourable, a merchant can wait.
Simplifies reconciliation and global treasury management
Scaling internationally without the right infrastructure means juggling local bank accounts across multiple countries, reconciling statements in different languages and formats, and managing separate banking relationships in every market you serve.
And don’t forget to calculate your tax payments in every single country for every single bank business account. That adds administrative complexity, but tax obligations depend on where and how you trade, not on each individual bank account. It’s inefficient at best.
A multi-currency merchant account consolidates this complexity into a single platform. Incoming funds in different currencies can be held in distinct currency wallets or balances within one account, giving the finance team a unified view of global cash positions.
Reconciliation becomes simpler because all transactions – regardless of currency – flow through a single reporting environment. It is just much better to have a centralised approach to treasury management.
How Genome simplifies global payments for your business
The Genome business account is designed for B2B companies, providing the multi-currency infrastructure needed to operate confidently across borders without the overhead of managing a patchwork of local banking relationships.
We have years of experience as a Lithuania-based electronic money institution that is compliant with major regulations: PCI DSS, PSD2, GDPR, DORA, and have ISO 27001 / ISO 27701 certifications.
Companies that open business wallets within Genome can access our multi-currency business accounts. With Genome, businesses can hold and manage funds in EUR, USD, GBP, PLN, CHF, JPY, CAD, CZK, HUF, SEK, AUD, and DKK from one wallet. Genome’s multi-currency accounts (specifically in EUR, USD, GBP, PLN, CHF, CZK, HUF, SEK, and DKK) can also be linked to Genome’s Visa debit cards, making it easier to spend from selected currency balances and manage day-to-day business expenses. For international operations, businesses can send and receive SWIFT transfers directly from the same platform.
We are also preparing to launch card payment processing – a feature that will allow merchants to directly receive funds in EUR, USD, GBP from Mastercard and Visa cards. This is a significant development that will expand our merchant services.
Do you need to accept payments now? No problem – we already provide merchant accounts and hosted payment pages. You can accept payments from clients directly via our instant bank payments (Pay by Bank) feature. Receive SEPA Instant and Credit Transfers from customers in euros with ease.
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in Genome online
Conclusion
The case for a multi-currency merchant account is clear. It improves the customer experience by presenting familiar currencies at checkout, reducing cart abandonment, and increasing conversion rates.
It also benefits companies by eliminating unnecessary FX fees and giving businesses control over when they convert. A multi-currency account provides resilience against exchange rate volatility and dramatically simplifies the operational burden of cross-border treasury management. For global merchants, it is a solution, and for some, it must have a feature.
If you are ready to future-proof your payment infrastructure, open a Genome business account with us today and apply for a merchant account. Once Genome’s card processing rolls out, existing account holders will be first in line to unlock the full benefits of a multi-currency setup!
