In the globalized e-commerce market, understanding and adapting to the platform’s currency exchange policy is the key to every seller’s success. For sellers operating on the Ozon platform, especially sellers from China, Turkey and other countries, it is crucial to keep up with the latest currency exchange policies and settlement rules. Since August 1, 2022, the currency exchange policy of the Ozon platform has undergone important changes. This article aims to provide sellers on the Ozon platform with a comprehensive guide to interpret the new currency exchange policy and provide practical operational advice.
1. The basis of the Ozon exchange rate.
On the Ozon platform, all payments are made according to the Ozon exchange rate. The Ozon exchange rate is based on the exchange rate set by the Central Bank of the Russian Federation. This means that regardless of market exchange rate fluctuations, sellers will receive payments at the exchange rate on the day the buyer creates an order. This policy helps protect sellers from exchange rate fluctuations and simplifies the revenue forecasting process.
2. Currency exchange policy for Chinese sellers.
For sellers in China, from August 1, 2022, the settlement currency can be CNY, USD or RUB. The product prices on the store homepage will be displayed in RUB, and the currency exchange rate used will be calculated based on the exchange rate on the day the order was created. It is worth noting that it is currently not possible to directly convert CNY to USD or RUB. If you need to change the settlement currency, sellers need to register a new personal center.
3. Currency conversion policy for Turkish sellers.
Sellers in Turkey also face similar policies. Their settlement currency is USD or RUB, and product prices are also displayed in RUB on the store homepage. Like Chinese sellers, currency conversion will be based on the exchange rate on the day the order was created. For Turkish sellers who want to change from USD to RUB, they need to register a new personal center to achieve this.
4. Currency conversion policy for sellers in other countries.
Sellers in other countries, including Europe and other regions, can choose EUR, USD or RUB as the settlement currency. Similarly, all product prices will be displayed in RUB, and the exchange rate used is based on the order creation date. If you want to convert from EUR to USD or RUB, sellers should note that direct conversion is not feasible and need to be adjusted by registering a new personal center.
5. The process of changing the payment currency.
Sellers on the Ozon platform who need to change the payment currency can apply for the change by contacting customer service. This option is available for sellers who want to convert RUB to USD or CNY. However, for sellers who want to convert EUR to other currencies, the only option currently is to create a new personal center.
6. Best Practices and Strategies.
Carefully select the settlement currency: When registering a new personal center, 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 strategies in a timely manner: Flexibly adjust business strategies and sales plans according to market environment and exchange rate fluctuations.
Effectively manage multiple personal centers: If there are multiple personal centers, make sure to manage each one effectively 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.