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> Zoho started allowing African companies to pay for its software in local currencies. This decision has been a major reason for Zoho’s success in Africa as it
by nitwit005 3y ago
> Zoho started allowing African companies to pay for its software in local currencies. This decision has been a major reason for Zoho’s success in Africa as it allowed customers and potential clients to avoid regulatory hurdles around dollar spending
One wonders what they're going to do with the local currency, if they presumably also have to deal with the same restrictions.
- jpgvm 3y agoEconomy of scale allows them to handle that regulatory burden much more efficiently than a single purchaser could.
- whstl 3y agoZoho (or whatever payment processor they use) has to handle N countries, which is easier than having multiple companies from different countries handling payment in foreign currencies. Living in Europe, it is easy for us to pay USD-centric services in dollars instead of EUR. But I remember it being almost impossible at the companies I worked at, when I was in Latin America.
- logicchains 3y agoPresumably they could convert that local currency to Indian rupees directly without ever needing to go through USD, avoiding regulatory hurdles.
- BillyTheKing 3y agojust like everyone else - sell it on the binance p2p market for USDT with very substantial mark-ups