When the customer wishes to pay with a different currency from the local currency of the country where the services or workers are located, Papaya will convert the invoice to the chosen currency, for example USD or EUR.
The base exchange rate uses data from one or more third parties, such as OANDA and CurrencyLayer. It is updated regularly, but may not be identical to the real-time market rate. If payment is not made in the local currency of the country where the services or workers are located, a 3% conversion fee will be added to the total cost; the conversion fee accounts for Papaya’s holding costs and foreign currency risks.
The exchange rate used will be stated in the invoice.
Customers who pay in a different currency from the designated currency of their payment method, may encounter other currency conversion rates or fees applied by their provider or third-party payment processor. Contact the provider (for example, the credit or bank card issuer) for information on what fees may apply to transactions, as those are not controlled by Papaya.
If there is a discrepancy between the payment amount listed in the invoice and the post-payment bank statement, the customer should contact their provider. The discrepancy may be caused when the customer’s bank considers Papaya’s processing entity international, in which case the bank may charge cross-border fees even if the charge was processed in the designated currency of the customer’s payment method.