Amazon have selected Payoneer as the featured payment solution in Amazon Seller Central to assist with cross border trade on their EU and US marketplaces.
Sellers in 24 different countries around the world can now use Payoneer as a simple convenient way to their receive Amazon disbursements.
This will most benefit Amazon merchants in countries like China and other Far East countries, who are hungry to sell their products to Europe but don’t have an easy solution to open a European bank account. They can now sign up for a Payoneer account right inside Amazon Seller Central. Once they have a Payoneer account they can receive Amazon disbursements and access them with a local bank account withdrawal or by using a Payoneer MasterCard.
With the recent media coverage regarding alleged VAT avoidance by Chinese sellers on marketplaces, making it easier for them to receive payments outside of the EU will probably touch a few raw nerves. If Amazon disbursements never touch an EU bank account, the only way EU tax authorities (including HMRC) will be able to see payment data will be to request the information directly from Amazon or Payoneer.
Countries where the Payoneer solution for Amazon disbursements is available are: Albania; Argentina; Brazil; Cambodia; China; Colombia; Indonesia; Israel; Japan; Jordan; Laos; Malaysia; Mexico; Nepal; Pakistan; Russia; South Africa; South Korea; Sri Lanka; Sweden; Taiwan; Thailand; Turkey; and Vietnam.