New Payment Service Provider policy - Updated Help Page


#26

That’s not quite accurate. There will be an increase in how long it takes to get funds paid into the bank account. It looks like Amazon is equating deposit-taking bank with non-participating PSP.

[Moderator edit: SEAmod lined out the sentence above.] To clarify, there are Participating PSPs, there are Non-Participating PSPs, and there are the Amazon direct disbursements made to the deposit account you have on file with us. It is only sellers who continue using a bank account from a non-participating PSP after May 31, 2021 who will be subject to a longer disbursement reserve period of up to 21 days after the latest estimated delivery date.

If you’re using a bank account from a participating PSP, then this doesn’t impact you.


#27

If you do not use a PSP, but instead are using a bank account directly issued to you by a bank, no action is required.


#28

Moderator edit: SEAmod removed off topic post.


#29

Is Hyperwallet on PSP?

Moderator note: Please see New Payment Service Provider policy for answer.


#30

Is Transferwise is part of Amazon PSP ?

Moderator note: See New Payment Service Provider policy for answer.


#31

I am using WorldFirst, so I assume I do nothing right?
My second question is, when I click on WorldFirst in the disbursement list it asks me to authorize the app as shown in the screenshot below. What happens when you authorize the WorldFirst app as shown in the screenshot. Is there any benefits to authorizing it? if so, what are the benefits?


#32

This is a good point. Amazon seems to have some sort of partnership with Hyperwallet before for some countries but they are not on the new list. Does this mean we can’t use them anymore?


#33

Exactly.

I didn’t know what either of those acronyms meant either but it was clear this doesn’t apply to anyone using a regular bank and not a 3rd party payment processor (for disbursements - not customer payments).


#34

No, you read that wrong.

If you are using a regular bank account no action is needed - IF … IF you are using a PSP that is not on the approved list then this would apply.

REREAD the statement.


#35

What did Walmart do?


#36

Hey, looks like TransferWise customer service is really busy right now, so there’s probably some people asking about the plan. I’ve sent their cs an email and will update here if I get any useful info.


#37

Please contact your PSP to learn about their participation plan.


#38

Hey. You misunderstood. Deposit-taking bank users are not impacted.


#39

Please contact your PSP to learn about their participation plan.


#40

This is what TransferWise said
… We’re aware of the issue and are currently in touch with Amazon about it.

We’ll update you before the programme starts on May 31st — this will make sure you don’t have any interruptions.


#41

@Phoenix_Fire
As noted in the first paragraph of the news story, we are launching the Payment Service Provider program to enhance our ability to detect, prevent, and take actions against potential bad actors so we can continue to protect customers and sellers from fraud and abuse. PSP is the Payment Service Provider, and at this time, only certain PSPs are available to you. No action is required on your part if if you’re not using a PSP, but instead using a bank account directly issued to you by a bank.


#42

@z_g2

A disbursement would NOT qualify for a hold of “up to 21 days after the latest estimated delivery date” if the seller is using a PSP that is participating with Amazon.

If you do not currently use a PSP, and if you do not begin to use a PSP, and instead continue using a bank account directly issued to you by a bank you don’t need to concern yourself over the extended disbursement hold.


#43

Hello @The_Inspiring_Cathol

You may do nothing and continue having disbursements sent to your bank account.


#44

@uncharted_gfsb

Thanks for your post. Yes, you are “good to go” and you don’t need to take any action.

Susan


#45

@fahreza

If you use hyperwallet as your PSP, because they are not participating at this time, we recommend you contact them to learn about their plan to enroll in our Payment Service Provider program. If they do not plan to enroll, you should switch to a participating PSP or use a bank account directly issued to you by a bank by May 31, 2021.