As more and more sellers join the Amazon platform, the differences in needs and services between Amazon sellers in different regions and entities on how to collect payments are becoming more and more obvious. Although there are many different payment methods to choose from, for sellers, how to identify the differences between them and choose a payment method that is both safe, affordable and efficient is the goal pursued by every seller. However, due to the differences between entities and regions of different sellers, in actual selection, some sellers may not be able to choose products that appear to be superior. So, let’s learn how Amazon sellers collect payments?
The difference between different collection methods lies in the differences between the steps involved in achieving the required function. The so-called function, that is, the function implemented by the collection method is to help the seller receive payment. In this process, from the front-end account opening, payment collection to cash withdrawal, these three steps are all the steps required to achieve payment collection, and the difference between different payment methods lies in the withdrawal link in these steps.
In the registration process, the first thing sellers need to pay attention to is the registration entity issue, that is, what type of identity can register which account. Some accounts can be opened as individuals, while other accounts only accept company identities. The registration fees for these accounts are also an issue that sellers need to understand clearly in the early stage. Currently, the mainstream payment methods are free during the registration process, but there are still some payment methods that clearly indicate the price, so sellers need to pay attention to this issue.
In the payment collection process, sellers also need to pay attention to two aspects. The first is the time of entry, and the second is the handling fee. The deposit time largely determines the store’s cash collection efficiency and operating strategy. For example, if the business strategy of a specific product requires quick withdrawal of funds, then a bank account with a relatively long deposit time is not suitable. However, if you’re looking for a high level of security, a bank account seems more robust. Each payment method has a complete price system. Generally speaking, emerging payment platforms usually choose lower handling fees to attract sellers.
In the withdrawal process, you need to pay attention to issues such as arrival time, supported currencies, withdrawal rates, and minimum withdrawal amounts. Among them, supported currencies and arrival time are more important, because errors in these two factors may bring greater potential losses and risks.
The above introduces the relevant knowledge about how Amazon sellers collect payments. Sellers need to comprehensively consider suitable payment methods based on their store operation strategy, location and product characteristics. Global collection brings many benefits to sellers, such as a safe and reliable payment platform and convenient payment methods. It will provide new development methods and more development opportunities for overseas transactions in the future. It is also a new situation that will continue to be faced in the future. .