What is the difference between Shopify Payments Multi-Currency and Shopify Markets?

Shopify Payments Multi-Currency was the system that Shopify provided to sell internationally from 2017 to early 2022. At the beginning of 2022, Shopify Payments Multi-Currency was replaced by Shopify Markets.

The configuration of the stores using Multi-Currency was automatically migrated to Shopify Markets.

The main difference between Multi-Currency and Shopify Markets is that Multi-Currency was based on currencies, while Shopify Markets is based on countries.

With Multi-Currency, you could select which currency you wanted to see your prices in. Now you need to select the country you are selling to, and the currency will be selected automatically. 

Please note that old currency selectors that have not been upgraded to Shopify Markets cannot be used to select currencies, as they may cause unexpected consequences. Currently, the only way to switch currencies is the country drop-down documented at https://help.shopify.com/en/manual/payments/shopify-payments/multi-currency/currency-selector or an app compatible with Shopify Markets, like the official Geolocation app at  https://apps.shopify.com/geolocation or Currency Converter Plus. Please see the related article below to know how Currency Converter Plus is compatible with Shopify Markets.

Shopify Markets does not only provide currency conversion but many other features like country-based pricing, localized taxes and shipping rates adjustments. For those reasons, Shopify Markets configuration is quite complex, so it must be reviewed carefully to understand all the rules that apply to a particular country.

Our recommendation is trying to keep things simple. Even if Shopify Markets allows us to configure very specific rules for each country (or even product), doing so may make our configuration very difficult to understand and maintain.