Earlier this year, Amazon launched the Payment Service Provider Program to enhance their ability to detect, prevent, and take actions against potential bad actors and protect you and customers from fraud and abuse. If you use a payment service provider to receive your Amazon store sales proceeds, you must use an approved Amazon PSP.
31st May 2021 changes
Time is running out and if you are using an unapproved Amazon PSP on or after the 31st of May then your payments will start to be delayed. You will be subject to a longer disbursement reserve period of up to 21 days after the latest estimated delivery date. This will seriously impact your cash flow.
If you use a bank account issued by a deposit-taking bank, or a participating PSP, no action is required. The current approved Amazon PSP list is here and for quick reference we’ve popped their logos above (correct as of 24th May 2021).
15the July 2021 changes
Amazon say that they are working to enrol more qualified virtual bank providers into the Amazon PSP programme. However if you’re still using an unapproved provide by the 15th of July 2021, Amazon will simply stop disbursement to you.
Sellers using non-participating payment service providers after the 15th of July will receive no more payouts until they add a regular bank account or sign up with a participating payment service provider.
