New Payment Service Provider policy


#1

Alert to sellers: Moderators are continuously updating the list of participating PSPs in this announcement. Please let us know if you have any questions.

As part of our continued effort to make Amazon the safest and most trusted store in the world for customers and sellers, 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. Sellers that choose to use a payment service provider (PSP) to receive their Amazon store sales proceeds will be required to use a PSP that is participating in this program. We are notifying you now so that you have sufficient time to change or contact your PSP if needed.

1. Do I need to take any action?

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.

If you use a PSP that is already signed up to participate in the program (including LianLian Pay, NetEase Global Pay, Payoneer, PingPong, WorldFirst, AirWallex, OFX Global Currency Account, iPaylinks, Skyee, and Zhejiang Chouzhou Commercial Bank), no action is necessary. We are working diligently to enroll additional PSPs into the program as soon as possible, and will continue to update this page with participating PSPs.

If your PSP is not yet participating, 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. Detailed instructions on how to make the changes are available here.

Beginning on March 1, 2021, sellers adding a new bank account from a PSP must use a PSP that is participating in the program.

2. What if I continue using a non-participating PSP after May 31, 2021?

Sellers who continue using a bank account from a non-participating PSP after May 31, 2021 will be subject to a longer disbursement reserve period of up to 21 days after the latest estimated delivery date (click here for more detail on payments based on delivery date).

Beginning on July 15, 2021, we will stop disbursement to sellers using non-participating PSPs altogether.

3. What should I do if I am using Amazon Currency Converter for Sellers (ACCS)?

If you are using ACCS and are disbursing your Amazon store proceeds to a bank account directly issued to you by a bank or by a participating PSP, no action is necessary. If you are using ACCS to disburse to a bank account issued by a non-participating PSP, refer to Question #1 above to determine whether you need to take action accordingly.


pinned #2

#3

Honestly, I have an issue with many of Amazon’s recent policy changes–but this one I get. It’s Amazon’s system and they really have no control over payment providers that they don’t own.

Plus, I’ve never had a chargeback dispute on Amazon’s system that Amazon didn’t fight, and at least in my case, they’ve fought it successfully. I don’t think I’d want to use any other payment system on Amazon proper.


#5

I know why they are doing it. It’s decent actually. It could send a message, perhaps things go and get more sales.


#6

Agreed that this is overall a good move. With the exception of WorldFirst and LianLian (seems China focused), I’ve used the others and they’ve been pretty helpful with a few other things in addition to saving money on FX fees. :ok_hand:


#7

So basically what they are saying is that those who are using bank direct bank accounts for disbursments they do not have to worry about anything and those who are using PSP like payoneer, paypal etc. they have to participate in this program and change it accordingly.

Am I correct?


#8

What is a PSP and why would one use this service?

I’d like to learn if this would be of benefit for our company. Thank you!


#9

Can someone explain this… I read that now they will hold our money for 3 weeks??? Is this only for amazon pay or all amazon sellers?


#10

You need to explain what a PSP is and a ACCS??


#11

We get our payments every 2 weeks into our Business Checking Account. Does that mean we are good to go? I don’t even understand what these PSPs are.


#12

Glad mine is participating


#13

Yes that’s my understanding. From the page, it looks like only PingPong and Payoneer in the US and also Amazon’s own ACCS service. Anyone else would have to enrol in the program if we want to continue using them.


#15

Wait, what? Does this mean we’re forced to sign up with a third party or can we just continue using Amazon’s disbursements as given? Note: this would effectively mean double merchant fees, Amazon fee, plus Payoneer fee is more expensive.


#17

Noticed this FAQ from the link: “If you do not use a PSP, but instead are using a bank account directly issued to you by a deposit-taking bank, no action is required.” So, what Deposit Method are you using?
https://sellercentral.amazon.com/gp/help/help.html?itemID=Y8JTVAWBPQT2XFC&language=en_US&ref=id_Y8JTVAWBPQT2XFC_relt_9RA9LYBJ3QP27M6


#19

First, if you’re using a bank account directly issued to you by a deposit-taking bank to receive your Amazon sales proceeds, then this does not impact you at all.

Second, you can find more information about “PSP” and “Amazon Currency Conversion for Sellers (ACCS)” via below two links:

  1. https://sellercentral.amazon.com/apps/store/search?category=f00228ab-f2c8-4e3d-ac20-d4c159e5e482&pageNumber=1&locale=en-US

  2. https://sellercentral.amazon.com/gp/help/GY8JTVAWBPQT2XFC


#20

As long as they’re not switching over to a different platform entirely like Walmart then we should be good. We use deposit from Amazon directly. Payoneer charges fees.


#22

What about hyperwallet?


#23

Anyone has an idea about Transferwise? I use Transferwise currently for receiving all currency from all marketplaces.


#24

I’d like some info on that too


#25

Does this affect to sellers who use payability?