To operate successfully on a global e-commerce platform, it is essential to understand and adapt to the settlement monetary policies of different markets. For sellers on the Ozon platform, understanding the platform’s currency settlement policy, especially recent changes, is essential for planning sales strategies and predicting revenue. This article aims to explain in detail the settlement monetary policy of the Ozon platform, including recent changes, and how to choose and manage settlement currencies according to business needs.
1. Changes in Ozon’s settlement monetary policy.
As of August 1, 2022, the Ozon platform has made important adjustments to its currency settlement policy. Previously, the sales amount was converted based on the exchange rate when the funds were transferred to the seller’s account. However, the new policy stipulates that the conversion of sales amounts will be based on the exchange rate at the time of order placement. This change means that sellers are no longer affected by fluctuations in the ruble exchange rate after placing an order, thereby simplifying the process of predicting revenue on the Ozon platform.
2. Choose the settlement currency.
On the Ozon platform, the choice of settlement currency occurs at the seller registration stage. After registration, the settlement currency cannot be changed in a personal center. Therefore, sellers need to carefully consider and choose the settlement currency that best suits them when registering. The selected currency is determined in the agreement with Ozon and is detailed in the “Payment Information and Agreement” section of the seller’s Personal Center (Settings – Payment Information and Agreement – Agreement).
3. List of available currencies.
The optional settlement currencies offered by Ozon depend on the country where the seller is located. Here is a list of available currencies for some major countries and regions:
China: CNY/USD
Belarus: BYN/RUB
Kazakhstan: KZT/RUB
Kyrgyzstan: KGS
Armenia: RUB
Turkey: USD/RUB
Europe: EUR/RUB
Other countries: USD/RUB
4. How to change the settlement currency?
If the seller wants to receive payments in a different currency, a new Personal Center must be created. When creating a new Personal Center, the seller can choose to close the previous Personal Center, or continue to use it (if you want to accept payments in a different currency). In this case, the existing product card needs to be copied to the new Personal Center.
5. Copy the product card.
Copying the product card is an important step that ensures that product information and settings can be seamlessly transferred to the new personal center. This process requires careful operation to ensure that all relevant information is accurately copied and updated.
6. Best practices and strategies.
Carefully select the settlement currency: When registering, carefully select the most suitable settlement currency based on business needs and market environment.
Pay attention to exchange rate changes: Understand and monitor exchange rate changes to better plan sales strategies and pricing.
Adjust business strategy in a timely manner: Flexibly adjust business strategy and sales plan according to market environment and exchange rate fluctuations.
Effectively manage multiple personal centers: If there are multiple personal centers, make sure to effectively manage each one to optimize sales and revenue.
Summary:
On the Ozon platform, the correct selection and management of settlement currencies is critical to the business success of sellers. By understanding the platform’s currency settlement policy, especially recent changes, and making informed decisions based on their own business needs, sellers can better control revenue forecasting and financial planning. In the increasingly competitive market of global e-commerce, understanding and adapting to the settlement monetary policies of different markets is the key to achieving business success.