Mavrck operates using US dollars (USD) as the primary currency. Costs and related metrics are always defined in USD.
Mavrck's PayPal and Tango Card payment integrations offer multi-currency support, and the platform is able to track accurate costs across a variety of incentive types. Mavrck’s Stripe payment integration only supports USD at this time.
Integrated incentives include cash incentives fulfilled through PayPal or Stripe and gift card incentives fulfilled through Tango Card.
Cash incentives through Stripe are only supported in USD at this time.
PayPal incentives are always created in USD, but influencers can withdraw their funds in any currency.
Influencers will receive payment in their PayPal account in USD, then they can withdraw funds from their PayPal account in any currency.
PayPal charges senders a 2% fee, up to $20, when recipients withdraw their funds in another currency. Since you are using Mavrck's PayPal account, this fee is absorbed by Mavrck.
If you have agreed to pay an influencer an exact amount in another currency, the PayPal incentive value must be set as an equivalent amount in USD. Because conversion rates fluctuate, the value amount should be calculated and updated at the time when the payment is fulfilled.
Tango Card incentives are supported in multiple currencies without manual conversion or international transaction fees.
Each gift card option is set in a specific currency. For example, there is a gift card option for Amazon.com in USD, for Amazon.ca in CAD, and for Amazon.com.uk in GBP. The currency options for each gift card type are dependent on availability in the Tango Card catalog.
The value of a Tango Card gift card is always set in the relevant currency, then Mavrck automatically calculates the cost in USD using the latest conversion rate.
The cost of a Tango Card incentive may change from the time it is set up to when it is fulfilled, but the value will always remain the same. The platform will display the final cost in the confirmation message when Tango Card incentives are fulfilled.
Offline incentives include product incentives, promo code incentives, cash incentives fulfilled offline, gift card incentives fulfilled offline, and other incentives.
Offline incentives are not directly linked to real transactions, so your options can be more flexible than with integrated payments.
To manage international payments using offline incentives, there are two primary methods:
- If your program uses only offline incentives:
- You may operate as if all costs and metrics are in the relevant currency.
- For example, simply pretend that every dollar sign is a Euro symbol and enter all amounts without any conversion.
- Your cost metrics will be displayed in USD, but you'll know that the true cost is the same number in Euro.
- If you program uses both offline and integrated incentives:
- Convert all cost and value amounts to USD before setting up incentives, to ensure parity with integrated incentives which are always defined in USD.
- To ensure accurate data as conversion rates fluctuate, recalculate and update the actual cost of incentives at the time of fulfillment.
- i.e. You create a campaign in September and calculate the cost of a £100 incentive as $115, so you enter $115 in the incentive setup. When you are ready to send payment outside of Mavrck in October, you calculate the cost of the £100 incentive as $120. Update the incentive setup in Mavrck from $115 to $120 to reflect the actual cost at the time of fulfillment.