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New Payment Service Provider policy - Updated Help Page

by News_Amazon

Alert to sellers: Please see the updated Seller Central help page here:
https://sellercentral.amazon.com/gp/help/help.html?itemID=GHP8M87Z5W6XTSTL&

Please see the section titled “What’s new” for a list of additional qualified PSPs enrolled into the program.

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, Zhejiang Chouzhou Commercial Bank, and Onerway), 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.

Tags: News and Announcements
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Seller_G2stXrx2YSup3
In reply to: News_Amazon's post

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.

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Seller_tLXC3DAlD3YUw
In reply to: News_Amazon's post
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Seller_5DrrKeHsDwIGT
In reply to: News_Amazon's post

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

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Seller_wKz0qz0vPuhPJ
In reply to: News_Amazon's post

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.

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Seller_6WdjbtHBy6Mez
In reply to: News_Amazon's post

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?

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Seller_mm2969iGbpmeW
In reply to: News_Amazon's post

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!

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Seller_Cd4wB6cBXriyg
In reply to: News_Amazon's post

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?

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Seller_OslKZBlgauQpl
In reply to: News_Amazon's post

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

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Seller_vjto8CENWIy6D
In reply to: News_Amazon's post

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.

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Seller_FY5abzJE8Fmz0
In reply to: News_Amazon's post

Glad mine is participating

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