Automatic FX price update

Unadjusted pricing during shifting market conditions negatively impacts your revenue and leads to price arbitration. The Automatic FX Price Update tool addresses this by tracking currency fluctuations and automatically adjusting the prices of affected one-time products based on boundaries you define.

Key Benefits

• Revenue Protection: Stabilize revenue and reduce arbitrage opportunities from bad actors in currency-devalued countries.
• Reduced Overhead: Eliminate the need for manual tracking and tedious price updates.
• Transparent Pricing: Prevent users from seeing unintended prices due to rapid market shifts.

How it works

The Automatic FX Price Update system relies on four core steps that provide end-to-end automation and control:

1. Verify intent and enroll: The system allows developers to opt-in, select a base currency, and define trigger thresholds.
2. Monitoring and triggering: Backend systems track daily market volatility and monitor if currency fluctuations go above your defined thresholds.
3. Automatic price update: The system automatically executes real-time value adjustments when a currency fluctuation exceeds your configured threshold, while sending developer notifications to ensure full visibility.
4. Manual controls: You retain final authority with the ability to manually view your update history, review, edit, or undo price updates at any time.

How to enroll

You interact directly with the Monetization Agent inside the Google Play Console to perform these tasks.

To Opt-In:

1. Open the Monetization Agent chat interface in the Google Play Console (often accessed by clicking Manage with AI agent).
2. Click Manage Price Fluctuations, or prompt the agent to opt you into the Automatic FX Price Update feature.

3. The interface guides you through a straightforward enrollment process where you need to prompt in the base currency, trigger thresholds and what behavior you want the system to follow in case the price update goes beyond the allowed range. The parameters to be set up are:
   • Base currency: Choose a currency against which the FX fluctuations should be measured. You can select among:
     • US dollar (USD)
     • Euro (EUR)
     • Japanese yen (JPY)
     • British pound (GBP)
   • Trigger threshold: This is the minimum % fluctuation that a currency needs to fluctuate against the base currency before the system applies a price update. This can be any decimal number(up to two decimal places) between 0 to 100. A smaller threshold (<10%) makes the system respond quickly to fluctuations (with greater number of price updates), whereas a larger threshold (>20%) would ensure the system captures long term trends (with fewer price updates).

Note: The system considers both appreciation and depreciation. So a threshold of 2% would denote a FX fluctuation of +2 or -2% to trigger the price update.

Price Limit Guardrail: This would indicate the behaviour you want to implement in case the maximum or minimum price limit is hit as a result of an automatic price update.If this scenario occurs, you may instruct the agent to:

• Skip: The system skips price updates for those SKUs.
• Limit to range: The system applies the price update but caps it at the minimum or maximum price allowed in that currency.

4. After you set up these parameters, the agent asks you to review your settings. 
5. After you review the parameters, click Confirm and complete the enrollment. 
   • Opting into this feature means that if any currency of an active product in your catalogue fluctuates beyond the threshold limit against the base currency, the system automatically updates the product price to reflect this fluctuation without your intervention.
6. After you confirm the agent interface opens where the agent confirms your opt-in. The feature then runs in the background, whether the agent window is open or closed, and you can use Play Console for other tasks. 

Developer controls and settings

You maintain full control over your pricing strategy at all times.

To edit your settings:

• Open the Monetization Agent chat interface in the Google Play Console (often accessed via "Manage with AI agent").
• Prompt the agent to change the parameter you want to modify (for example, "Change my FX trigger threshold to 5%").
• After you edit the parameters you want to change, the agent asks you to review your settings. 
• Once you have reviewed the parameters and are happy with the setup, click on “Confirm” and complete the enrollment. 
• After you confirm, the agent interface opens where the agent confirms the successful application of your changes.This feature now runs in the background with the new parameters, whether the agent window is open or closed, and you can use Play Console for other tasks. 

 

To Opt-Out:

If you no longer want to use the automated FX Price Update feature, you can opt out of the feature at any time in the conversation window.

• Open the Monetization Agent chat interface in the Google Play Console (often accessed via "Manage with AI agent").
• Prompt the agent to opt-out of this feature (for example, "I want to opt out of the Automated FX Price Update feature").
• The agent reconfirms with you regarding your intent to disable this feature. If you are sure about your choice, reconfirm by prompting your consent (for example, “Yes” or “I am sure”).  After the agent applies the changes, the agent asks you to review your settings. 
• After you review, click Confirm and complete the opt-out. 
• After you confirm, the agent interface opens where the agent confirms your opt-out. You can opt into this feature any time by prompting into the agent.

Monitoring and Triggering System

Once you have opted in and configured your settings, the system monitors currency rates on your behalf without developer intervention. If the backend detects the market volatility crossing your threshold against your base currency, the system will automatically update the prices of products in your catalogue representing the true exchange rate. 

Automatic price updates would occur to all purchase options(buy or rent) of the one time products in your catalogue, except the products which are enrolled in:

• Price experiments
• Play Points
• Pre-order offers
• Promo code campaigns 

The final price that you see accounts for the % drift due to the currency fluctuation against your base currency, along with adjustments for tax(for price inclusive countries) and rounding and charming rules. This update happens at most once a day and Google Play notifies you about the change. 

If a currency that you sell in, crosses your threshold, the system adjusts prices in that currency against the base currency.

Notifications and transparency

When the system detects a currency fluctuation crossing your threshold and applies a price update, you are notified through multiple channels:

• Direct Notifications: Google Play sends immediate notifications to your Google Play Console notification center.
• Email Updates: Detailed summaries of the price changes are sent to your registered inbox.
• Chat History: A complete record of the AI agent's decisions and past updates. You can access it anytime by clicking Manage with AI agent.

Manual controls and reversions

If an automated price update occurs that you are unhappy with, the tool offers a quick and safe reversion process: 

• Simple Prompts: In the agent chat, type "restore the prices on XX date" or "revert the prices".
• Review & Confirm: Before the agent reverts the changes, the agent prompts you to review and confirm the reversion.
• Limitations: You can revert price changes provided no manual price updates (apart from the automatic price update done by the system) is done. If there are manual price updates, the revert fails.