Add more currencies to resources

[Advanced Plugins]

Hey,

Would love to have more currency options for resources, like EUR. We sell our resources in EUR (so many other creators use EUR or GBP, not only USD).

Problem with USD for us on Builtbybit (let's say my resource costs 9.99 EUR):

1. after conversion, that's $11 already - much higher price.
2. we include the builtbybit platform fee in prices - $12.
3. buyer gets VAT added, roughly on average it's 20% in EU - $14.4

The final price is $14.4. While it makes sense after calculations, it's visibly much higher and I'm 100% certain causes more friction when purchasing and decreases number of customers. Having it in EUR will benefit everyone - we could eat the fee as PayPal is roughly ends up being similar, but with USD if we don't increase the price, this problem arises:

1. 9.99 EUR -> $9.99
2. After platform fees $9 is remaining
3. After Tebex wallet fee for conversion (this is best case scenario, their exchange rates aren't good either) $8.82
4. Tebex withdrawal fee US$1.89, let's say we withdraw every 20 payments: $8.72
5. Then we convert back to EUR: almost 8EUR remaining.

After all random fees that selling here happens, we lose over 20%. With simply selling on other platforms/ourselves fee is ~6% for us on avg with paypal. It doesn't make financial sense to lose as much in one payment as a big creator, where BuiltByBit only represents 2% of our income already, when it's not a subscription and from the price we pay developers, support etc.

In conclusion, having EUR would benefit everyone.

 

[PixelModels]

To illustrate this, I can also bring in some data:

original 41.26$
From a payout of tebex 35.01$
I have 31.57€ left
--------------------------------------------
around 20 percent yes.

but if my german customers pay the 19% on top of that, which they don't have to pay anyway because i am subject to the german small business regulation, i lose 39%.
with 9.9% everything would be gucci but that's 4x

I hope I'm allowed to say that here but: Unfortunately mick has already announced that € is not possible as the Checkout does not allow this (multiple resources in cart)
so unfortunately we have to life with the fact that EU sellers lose the most on bbb
but the platform also offers a lot of advantages, so i can live with it

 

[Advanced Plugins]

To illustrate this, I can also bring in some data:

original 41.26$
From a payout of tebex 35.01$
I have 31.57€ left
--------------------------------------------
around 20 percent yes.

but if my german customers pay the 19% on top of that, which they don't have to pay anyway because i am subject to the german small business regulation, i lose 39%.
with 9.9% everything would be gucci but that's 4x

I hope I'm allowed to say that here but: Unfortunately mick has already announced that € is not possible as the Checkout does not allow this (multiple resources in cart)
so unfortunately we have to live with the fact that EU sellers lose the most on bbb
but the platform also offers a lot of advantages, so i can live with it

The profit opportunity on sellers' end is enormous and it's all lost because of this.

I wasn't aware that it's already been said, that's really unfortunate. We'd love to expand more from other platforms onto here, but at least for us the gains in control and platform features don't outweigh the profit loss over the gateway system. If only there was a way to "migrate back" to legacy paypal system. I'm grateful for all the effort put into the platform, but end of the day everyone posting resources for monetary gain, and it doesn't make that exact sense now.

 

[zArrowTan]

not possible to add multiple currencies as if someone is buying multiple resources the currencies could be conflicting.

 

[Advanced Plugins]

not possible to add multiple currencies as if someone is buying multiple resources the currencies could be conflicting.

All other platforms have it, are they having conflict issues?

 

[zArrowTan]

All other platforms have it, are they having conflict issues?

No, because they don't use Tebex and their purchases are separate. I don't need to explain how Tebex checkout works. Here, people can buy multiple resources from different authors at a time. Having multiple currencies will result in bad conversions sometimes, and it can be a problem.

SpigotMCh has direct PayPal payments, so it doesn't matter if the product is in EUR, USD, or GBP.

 

[Advanced Plugins]

No, because they don't use Tebex and their purchases are separate. I don't need to explain how Tebex checkout works. Here, people can buy multiple resources from different authors at a time. Having multiple currencies will result in bad conversions sometimes, and it can be a problem.

SpigotMCh has direct PayPal payments, so it doesn't matter if the product is in EUR, USD, or GBP.

Conversion problems precisely where? Nothing you have mentioned so far is a valid argument. Please do explain the tebex checkout. I have 10+ years web development experience, both backend and front end, 8 years java. Explain the limitation.
Let’s take Stripe as an example, as it does support multiple gateways - it has multi currency support. There is no need to exchange the money at any time at all.

I should be able to choose my preferred currency.

 

[zArrowTan]

Conversion problems precisely where? Nothing you have mentioned so far is a valid argument. Please do explain the tebex checkout. I have 10+ years web development experience, both backend and front end, 8 years java. Explain the limitation.
Let’s take Stripe as an example, as it does support multiple gateways - it has multi currency support. There is no need to exchange the money at any time at all.

I should be able to choose my preferred currency.

You just don't seem to understand, if your resource is in EUR and another in USD. Tebex will be confused on what currency to charge the customer with. If it decides to charge both of them in USD then why bother even pricing your resource in EUR as you'd still receive ur split of the customer's payment in USD.

Stripe has no relation to how tebex works here. Here, people can buy 10 resources each from 10 authors and on payment all 10 authors would receive their split from the customer's payment. So there's no way to send you the payment in EUR when the customer paid in USD.

I think you don't understand how the payment works here, the fact that you said other platforms support multi currencies when I talked about tebex made me understood that you don't have a clear idea of how thetebex checkout works. I'd recommend you contacting builtbybit support to get a clear idea of how it is.

The only other way for you to receive the money in EUR is for builtbybit to change its default currency to EUR.

Now if you still don't understand I can't do anything as I've literally explained it in a way where a 10 year old would understand.

Post automatically merged: Feb 20, 2024

Now look I too am against tebex but its what we got, I wish we could price the products in my own currency (INR) but USD is the only option and you need to realise that.

Why USD is being used? because its the one thats the most familiar over the globe.

 

[Advanced Plugins]

You just don't seem to understand, if your resource is in EUR and another in USD. Tebex will be confused on what currency to charge the customer with. If it decides to charge both of them in USD then why bother even pricing your resource in EUR as you'd still receive ur split of the customer's payment in USD.

Stripe has no relation to how tebex works here. Here, people can buy 10 resources each from 10 authors and on payment all 10 authors would receive their split from the customer's payment. So there's no way to send you the payment in EUR when the customer paid in USD.

I think you don't understand how the payment works here, the fact that you said other platforms support multi currencies when I talked about tebex made me understood that you don't have a clear idea of how thetebex checkout works. I'd recommend you contacting builtbybit support to get a clear idea of how it is.

The only other way for you to receive the money in EUR is for builtbybit to change its default currency to EUR.

Now if you still don't understand I can't do anything as I've literally explained it in a way where a 10 year old would understand.

What are you on about? Man you have no idea how this works actually, I wont be wasting any more time with you. Storing currency type and passing it in web request isn’t complex at all. I have my own coded web store where I have multi currency support. You need to figure it out yourself before coming here and thinking you know all - you don’t. Jesus.

 

[zArrowTan]

What are you on about? Man you have no idea how this works actually, I wont be wasting any more time with you. Storing currency type and passing it in web request isn’t complex at all. I have my own coded web store where I have multi currency support. You need to figure it out yourself before coming here and thinking you know all - you don’t. Jesus.

You just don't understand, do you?

I literally explained how a customer would buy 2 resources, 1 from you, 1 from another author and he'd be paying in USD.

I talked about how to currency conversion could be a problem after the customer paid and when the money is on route to your tebex wallet.

I never said its not possible.
I said it can be wrong.

Post automatically merged: Feb 20, 2024

What are you on about? Man you have no idea how this works actually, I wont be wasting any more time with you. Storing currency type and passing it in web request isn’t complex at all. I have my own coded web store where I have multi currency support. You need to figure it out yourself before coming here and thinking you know all - you don’t. Jesus.

If you're not aware, BBB had multiple currencies before initiating tebex wallet. Every Pro resource is now in USD to make transactions easier.

Only legacy resources on BBB currently are able to sell in EUR, GBP etc

 

[Advanced Plugins]

You just don't understand, do you?

I literally explained how a customer would buy 2 resources, 1 from you, 1 from another author and he'd be paying in USD.

I talked about how to currency conversion could be a problem after the customer paid and when the money is on route to your tebex wallet.

I never said its not possible.
I said it can be wrong.

What is the problem with them buying in different currencies? What is the problem? You cant explain it. It’s simple to have multiple currencies, why does it need to be converted to let’s say USD for every transaction? Im sure resources addon can be updated to store the payment currency easily as well. There, once again, is no reason lol.
If I have to guess limit here, its tebex accounting not hassling with other currencies.

have you talked with builtbybit staff? Have you developed this system to be so sure it cant be done? You are going crazy defending it lol. What are your credentials? You cant just be saying crazy things without having some proof of it.

 

[zArrowTan]

I'm not going crazy, and yes I once saw BBB staff talk about why USD is the only currency for pro resources, and they said it was because when a person buys multiple resources, the amount for payment can be conflicting if there are multiple currencies.

The situation would be different if each product could be bought directly but no, tebex checkout combines the price together before payment and ya of course they don't want to hassle with all the account stuff like why tf would I write

Order-1 10.78$ - 10EUR withdrawal

I'd literally just write down
Order -1 10.78$ - withdrawal

any company's accounting would want it to be as simple as it can be

What is the problem with them buying in different currencies?

what do you mean? See you clearly can't understand what I mean. Tebex checkout lets us buy multiple resources together. Why in the world would tebex want to go through the hassle of converting your eur price to USD before payment and after payment?

I think you're thinking that each resource is bought as a separate purchase but no, on here people can buy multiple resources together and when calculating the final price before payment the price can be annoying to calculate for tebex checkout.

You cant explain it.

I just did, you're just being stubborn and not trying to understand.

It’s simple to have multiple currencies

I never said its not, I said platforms like spigotmc have multi currencies because authors can directly receive the money and the buyers basically just execute direct paypal payments.
I also said legacy bbb resources still have multicurrencies because they still use the paypal gateway.

You're comparing a platform (where people can only buy 1 resource at a time) to a platform where (people can buy 100 resources at a time and tebex splits the payment it receives to those 100 wallets)

Post automatically merged: Feb 20, 2024

why would tebex want to go through the hassle of converting your split into EUR before sending it to your wallet, this is the 3rd time I'm telling it to you.

 

[Advanced Plugins]

I'm not going crazy, and yes I once saw BBB staff talk about why USD is the only currency for pro resources, and they said it was because when a person buys multiple resources, the amount for payment can be conflicting if there are multiple currencies.

The situation would be different if each product could be bought directly but no, tebex checkout combines the price together before payment and ya of course they don't want to hassle with all the account stuff like why tf would I write

Order-1 10.78$ - 10EUR withdrawal

I'd literally just write down
Order -1 10.78$ - withdrawal

any company's accounting would want it to be as simple as it can be


what do you mean? See you clearly can't understand what I mean. Tebex checkout lets us buy multiple resources together. Why in the world would tebex want to go through the hassle of converting your eur price to USD before payment and after payment?

I think you're thinking that each resource is bought as a separate purchase but no, on here people can buy multiple resources together and when calculating the final price before payment the price can be annoying to calculate for tebex checkout.


I just did, you're just being stubborn and not trying to understand.


I never said its not, I said platforms like spigotmc have multi currencies because authors can directly receive the money and the buyers basically just execute direct paypal payments.
I also said legacy bbb resources still have multicurrencies because they still use the paypal gateway.

You're comparing a platform (where people can only buy 1 resource at a time) to a platform where (people can buy 100 resources at a time and tebex splits the payment it receives to those 100 wallets)

Post automatically merged: Feb 20, 2024

why would tebex want to go through the hassle of converting your split into EUR before sending it to your wallet, this is the 3rd time I'm telling it to you.

Wallet can be split into multiple currencies, or allow 1 payment for 1 plugin depending on currency etc. Its a huge downside of builtbybit, Im not here to talk what they should do or decide to change, but to open a suggestion. Ive explained the downsides of this platform and a huge improvement they could do. End of this. It’s up to them to decide how to go around the problem, or to close this suggestion if they are sure they cant do it.
I’d go back to legacy system they had any day.

 

[zArrowTan]

All I can say is I once saw them talk in creator channel about why its not possible to have multi currencies. If you open a suggestion here BBB is just gonna ignore it until they find it a good idea and I will say that BBB doesn't want to do this. If you really want to get a response from bbb regarding this, open a ticket and ask the ticket to be esculated to higher management or developers and ask them why its not possible.