Amazon has announced that it’s rolling out a new service called Amazon Seller Wallet. It will give selling partners more control over how much and when to convert their funds to different currencies. The company said that the tool will begin rolling out in the next few months and should simplify selling goods on Amazon in other countries.
With Amazon Seller Wallet, you’ll be able to hold, view, and transfer proceeds from your Amazon store directly to your bank account on a schedule. Once you get the service, you’ll be able to find it in Amazon’s Seller Central. Amazon is pitching the product as both hassle-free and easy to use.
Commenting on the new product, which he has used, selling partner Maxwell Sigurdson-Scott, founder of Canadian company MESS, said:
“Amazon Seller Wallet has allowed me to easily manage my payouts all within Seller Central. The tool is simple to use and has saved me time and money.”
Amazon Seller Wallet will not require you to pay or hold minimum accounts, nor will you need to pay a maintenance fee. Amazon will make money on this service when sellers convert and transfer fund through volume-based currency conversion and international transfer fees. The firm didn’t state how its fees compare to rates charged by similar services.
Right now, Amazon Seller Wallet is being tested by some businesses on Amazon.com. It said it looks forward to bringing the tool to other sellers, so it can help them save money and grow.