Torquay, Australia (PressExposure) July 13, 2011 -- Smart business people selling products online today are switching payment processors to accept payment in what they perceive to be the more profitable currency. Smart online marketers are increasing their profits today by switching their payment processors to the higher Australian dollar says J.Smith from [http://accountingsmallbusiness.net].
The US dollar has previously been the preferred currency for purchasing goods online but with the Australian dollar coming in at $1.05 to $1.09 above the US dollar, many savvy online marketers are asking for payment in Aussie dollars. When using online payment systems like Pay Pal then the extra revenue covers the sellers costs.
This is a bonus for savvy affiliate marketers and for U.S businesses selling products online today.
The economic forecast by the Reserve Bank of Australia for the higher Australian dollar is good and is expected to remain strong for the foreseeable future.
The higher Australian dollar is a bonus for Australians who buy online. It was only three years ago that Australians were having to fork out an extra 20 -25% for anything that they purchased online so to see the Australian dollar just that bit higher today is encouraging more Australians to buy online.
While the higher Aussie dollar may be good for people wanting to pay less for their products when purchasing goods from overseas, it is not good for many Australian small businesses.
Many of these small businesses in regional towns have to pay high road transport costs and are currently recovering from last summers flood damage.
In Queensland they are also seeing a downturn in the number of Tourists, and the hospitality industry is trying to lure overseas tourists back to the regions with discounted prices and additional tour packages. Many of these tourist regions like Hervey Bay have traditionally been the favourite haunts for overseas visitors.
The Whale watching season has just begun in Hervey Bay and the Whales have been co-operative by arriving early and putting on some great displays.
Many Australian online businesses were previously selling their Australian products in US dollars but today have switched back to their local currency and are encouraging Australians to buy more Australian products online.
The online market is a competitive environment and many smart US businesses are switching their payment processors to benefit from the higher Aussie dollar too.