Set up exchange rates

Reward exchange rates

  1. On the Admin sidebar, go to Stores > Other Settings > Reward Exchange Rates.

  2. In the upper-right corner, click Add New Rate.

  3. In the Reward Exchange Rate Information section, do the following:

    Reward exchange rates - information

    • Set Website to the sites where the reward exchange rate applies.

    • Set Customer Group to the groups where the reward exchange rate applies.

    • Set Direction to one of the following:

      • Points to Currency
      • Currency to Points

    For either Direction setting, the amount is represented in the base currency of the website.

  4. Enter the Rate values according to the Direction setting.

    DirectionRate settings
    Points to CurrencyIn the first Rate field, enter the number of points. In the second Rate field, enter the monetary value of the points.
    Currency to PointsIn the first Rate field, enter the monetary value. In the second Rate field, enter the number of points that is represented by the monetary value.

    When converting points to currency, the number of points cannot be divided. For example, if ten points convert to $2.00, points must be redeemed in groups of ten. Therefore, 25 points would redeem for $4.00, with 5 points remaining in the customer’s balance.

    It is recommended that you set up a conversion for both Points to Currency and Currency to Points.

  5. When complete, click Save.