SellersFunding are now a participant in the Amazon Payment Service Provider Program. This means that they are now another alternative to having your funds paid directly and incurring Amazon’s spot rate for currency conversion on the day of disbursement. Having funds paid via a virtual bank account or digital wallet means there’s no currency conversion until you choose to do so, and generally at a more attractive rate than Amazon’s internal rate.
Amazon launched their Payment Service Provider Program in 2021, to enhance their ability to detect, prevent, and take actions against potential bad actors and protect you and customers from fraud and abuse. Since May 2021, if you use a payment service provider to receive your Amazon store sales proceeds, you must use an approved Amazon PSP. At launch less than a dozen service providers were registered, but that’s expanding to 24 and now includes SellersFunding
SellersFunding, which aims to provide seamless and secure solutions to its customers, offers Digital Wallet, an all-in-one payments platform to manage their global ecommerce finances. Digital Wallet provides ecommerce sellers with the advantage of receiving marketplace payouts from multiple stores in one place. It gives sellers the ability to hold payments in multiple currencies, pay suppliers in over 180 countries and save on costly currency conversion fees. All SellersFunding customers currently receiving Amazon payouts via their Digital Wallet will continue to receive payouts without interruption.
Being enrolled as a member in Amazon’s PSP program is a testament to the highly trusted financial solutions we provide at SellersFunding. Our goal is to help online merchants mitigate any potential risks they may face in this continually-evolving ecosystem and support their opportunities to grow and thrive. We are proud to offer this benefit to current customers and eager to offer our secure services to future customers.– Ricardo Pero, CEO, SellersFunding