For many novice cross-border e-commerce, there are many things they don’t understand. Therefore, this article will introduce how Shopee sellers collect payments and what methods are there.
1. When sellers upload products, product pricing is displayed in the form of local currency, that is, Taiwan’s prices are displayed in New Taiwan dollars, Malaysia is Ringgit, Thailand is Thai Baht, Singapore is SGD, Vietnam is Vietnamese Dong, Indonesia is Indonesian Rupiah, Philippines is Peso, Brazil is Real. Buyers can pay in local currency when checking out, which is more convenient.
So when everyone sets prices, they should convert the exchange rate and then set an advantageous price, so that they can have greater advantages.
Although the price of Shopee products is a regional market, the platform’s settlement and allocation to sellers are slightly different, and some sites mainly settle in US dollars.
The settlement currency of Taiwan Station, Malaysia Station, Thailand Station and Philippine Station is in US dollars, and the others have their own unique payment methods.
Therefore, Shopee sellers must clearly distinguish between product prices and the currency types of payment settlement, so as not to confuse them, which will have a greater impact on product pricing. Not only will it affect store conversion, but it may also be considered by the platform as wrong pricing and will be punished.
2. Matters Needing Attention.
1. Payments are settled according to the local currency type. Sellers can change the payment account bound to the account at any time, but they must have an independent password to change it. Note that the independent password needs to be obtained from the exclusive account manager, which is different from the store login password.
2. There are no restrictions on the requirements for the payment account, and the company account can also be bound to the legal person card.
3. If the seller wants to change the payment method, he can go to the background to unbind and then rebind the payment account.
4. The payment is made twice a month, in the middle of the month and at the end of the month. If it is less than 15, the payment will not be made.
5. After binding the payment account, you can collect payment without binding a bank card.
Also note that not all Shopee sites settle in US dollars. Only some sites accept payments in US dollars, namely Taiwan, Malaysia, Thailand and the Philippines.