Every businessman understands that receiving payments for goods and services is very important. This is also the case for operating an amazon business outfit.
In this article, we’ll be showing you how you can receive payments for the purchase of your products on amazon with the payment platform.
HOW DOES AMAZON PAY ITS SELLERS?
The first thing you need in receiving payments from Amazon is getting a bank account. Amazon payments are made to your bank account every two weeks.
The payments cannot be made when you have not registered your bank account on the Payoneer platform. The charges for every payment would be charged based on your plan. Charges for inbound shipping, product referral, and Storage are all made according to your Amazon business account.
The only thing not deducted from your payments to your bank account is amazon’s advertising fees. These can be processed with a credit card. Amazon will not release payments until after a week to ensure that charge returns are accounted for when a product is sold.
It takes about 2-3 days before the payment enters the local bank account. The time duration can also be lengthened if your bank service is poor and inefficient. Some banks take up to 5 working days of venture recovery payments.
HOW TO CONNECT AMAZON SELLER CENTRAL TO PAYONEER AND RECEIVE PAYMENTS FROM AMAZON
If you want to receive any payment from Amazon, then you must set up the receiving account with Payoneer.
The receiving account should be registered in the currency you are most flexible with to avoid more conversion charges and challenges. In this section, we will take you through the little steps involved in setting up a receiving account with Payoneer.
STEP 1
Log in to Amazon Seller Central and ensure you have the details to your Payoneer bank account. This means you need to know your Payoneer USD bank details, of course, your Payoneer account is going to be a dollar account.
If you don’t know how to access those details, then login to your Payoneer account and go to the menu showing receive. Select global payment service and tap the USD button to have the account details displayed.
STEP 2
When you have logged into the Amazon seller central, you will.be requested to provide the type of business you operate and some other information. When you’re done filling, click agree and continue.
Ensure to add your relevant address and phone number to finish the process of verification. Now you can click next.
STEP 3
At this point, you would be required to enter the details of your Payoneer USD receiving account and click Next to complete the other processes in the amazon marketplace set-up.
STEP 4
Whenever you want to withdraw from Amazon seller Central all you need to do is click activity on your dashboard and then click withdraw on the main menu.
Select two bank accounts and Amazon will send payments to your pay sooner USD receiving account.
If you sell a product on Amazon but are not a US resident Amazon asks you to perform a tax verification. To do this, sign the displayed document that proclaims that your leader is a US citizen and all U.S taxpayers.
If you don’t do it the payments for each product will be delayed and unprocessed. the interface of Amazon stores across countries and continents is the same.
FEES FOR WITHDRAWING FROM AMAZON TO YOUR PAYONEER ACCOUNT
To have a smooth transaction you should have a basic knowledge of the withdrawal fees set by several market networks. Fees charged for renewal are not always the same. Payoneer offers withdrawal charges to payments for transactions to your local bank at average rates.
For a local bank account, the charge is 2% of the withdrawn amount
For a BANK ACCOUNT IN THE SAME CURRENCY –$/£/EUR1.50
ADDITIONAL TOOLS FOR AMAZON SELLERS
Logging into the marketplace of each country’s version of Amazon might be difficult and challenging.
AMAZON STORE MANAGER
The Amazon store manager gives you a better option in tracking your total earnings and gives you a view of the payments from multiple stores across marketplaces. With the Amazon store manager, you can perform the following:
- Automatically keep track of all your marketplace store payments
- Label stores to make it easier to keep track of your sales performance
- Export your payment data and analyze trends to see which stores generate the most revenue.
CAPITAL ADVANCE FOR AMAZON SELLERS
If your business will be successful and grow then you need to have the right cash flow for your e-commerce business to help you make purchases during crucial buying seasons.
The Payoneer capital advance program is strategically built for e-commerce business operators who want to maximize more opportunities. The tool offers the following:
- Get up to $500,000 funding based on the monthly volume of each of your stores.
- Settle your funding over time by paying off a portion of your earnings until fully settled.
- Enjoy instant access within just one click of accepting the offer.
- Avoid high fees by being charged just one fixed fee with no hidden surprises.
MAKE A PAYMENT TO AMAZON ADVERTISING AND TRANSPARENCY
If you are using the Amazon transparency service or marketing a product through Amazon advertising you have the Liberty to make payments directly from your pioneer account.
All need to do is to sign in to your online account and select pay for a payment to be made. The entire process is itemized below
- Sign in to your online account.
- Select ‘Pay’ and Make a Payment.
- Choose whether you need to pay an Amazon Advertising invoice or an Amazon Transparency invoice.
- Upload your invoice file. The invoice details will be displayed automatically.
- Select the currency balance from which you wish to pay the invoice.
- Review the amount you’ll be charged (including fee or conversion rate) and click ‘Pay’.
This transaction has a limit to which the user is allowed to transact. The limit is displayed on your amazon account.
ADDITIONAL BENEFITS OF USING PAYONEER TO GET PAID
Payoneer allows simplified management of international payments from marketplaces and Amazon. You would be given the following advantages:
- Receive payments from Amazon and e-Commerce marketplaces, like Lazada, Wish, etc, to one account.
- Keep your seller earnings at better rates and optimum pricing for high volume sellers
- View upcoming payments and payment history for your eCommerce sites.
- Enjoy multilingual customer support any time day or night, every day of the week.
CONCLUSION
With Payoneer, users who have their products on Amazon have detailed management tools for viewing payments and keeping track of sales. It also provides reduced charges for sellers so that they can have access to more funds while ensuring that the funds are safe and secured.
Every client needs to be assured of the security of their funds before registering on any financial platform and this is what the Payoneer platform provides.
You need Payoneer as an amazon seller, it will help your e-commerce business and expand your financial transaction across marketplaces.
