multi-currency functionality in Mendix application
Has anyone tackled the ability to handle multi-currency functionality in your Mendix application? At a high level, we help organizations run their clinical trials, and as they move global, they will have sites that conduct clinical trials in multiple countries. One service we provide is handling the payments to the sites, and we do this today with a Mendix application that integrates with our payment system. We want to be prepared to process capturing contract terms and calculating payments to sites that are in other countries / currencies. I can’t find anything about this in the app store or on the forum – hoping that someone has accomplished this and can provide some guidance and level of effort needed. Thanks in advance!!!
You could probably go with one of two options. First option would be to create a table in your application that holds the conversion rates for all currencies (or the currencies you support) and maintain that table monthly or weekly (depending on how often rates change). The second option would to find a third party service that you can connect too via a Rest api to pull the current exchange rate of two currencies that you provide. Doing a quick google search there are a couple different options that are free and paid.
Another option would be to use option 1 where you maintain your own table for conversion and have that update automatically with a rest service either weekly or monthly.
We use https://fixer.io/ API to grab current currency conversions. I believe it’s free.