Hi, my site allows users (buyers) to buy e-learning courses for other users (receivers). The courses are different prices and are in a mix of different currencies such as USD, EUR, AUD and users pay for them with paypal. If the receiver does not start the course within 28 days the the buyer gets a refund back but paypal does not like issuing all of these refunds, so i am thinking of changing my system to a credit system instead of a refund. For example, if the buyer buys a $10 course and it is not started, the buyers site account is credited $10. My worry is, how can i manage the currency conversion etc. As the site takes the initial payment of $10, then credits the buyers site account with $10, but what if the buyer then wants to buy a €7 course for another user and that gets refunded and so on and so on... how can i manage the currencies and credits as exchange rates need to be managed but a user is only paying with credits the second time around... thanks in advance for your help.
Possibly the easiest way is to invent a currency. Call it "credits" If you're operating in the US, use USD as your base currency. Set a rate of $ to Credits, then from there, just convert from USD -> whatever when purchasing credits. One downside to this approach is that you can't offer refunds. Regardless of whether or not you use daily, hourly, or up-to-the-minute conversion rates, there will be instances where users could game the system.
Upon payment or orders save/record all the data transaction and converted it ito USD. When they are going to buy in different currency you should have this USD multiplier. Before they can buy somthing use the multiplier and check If they have enough amount / dredits to buy/order other items.