Death of the Euro - what does this mean for ecommerce?
Rumour has it that the 13 year Euro project is going to come crashing down in 9 days, in what has been called Eurogeddon. The bond market has essentially ground to a halt already, and businesses and the treasury are preparing for the worst.
Some people believe that it's only a matter of time before the euro dies, but what does this mean for Ecommerce? If you are trading in Euro currencies, then you are going to need to move any remaining euros from your euro merchant account into another - US dollars is a safer haven. You will also have to plan to redevelop your website quickly if you have product prices in Euros.
In addition to this, it's likely that you will have to do some overhauling of your payment systems if these allow for euro currency payments. Don't wait until the inevitable happens, do it now. That way you wont have the problems of trying to contact technical support on your payment gateway at the same time as thousands of other online businesses will have to do. When the crash comes, the currency conversion rates for Euros will tumble too, so its a wise idea to exchange any funds sooner rather than later.
