How to collect payments when running a local store on Shopee? How does the Shopee platform transfer payments?

There are two types of stores on the Shopee platform, one is a local store, and the other is a non-local store. If you compare the two, the local store has a little more advantages. Do you know how to collect payments on a local Shopee store? The following content will introduce it to you.

How to collect payment for a local Shopee store?

To receive payments on Shopee, local sellers only need to prepare a local bank card, which can be any bank card from Thailand, Malaysia, Singapore, etc. However, it is not easy for domestic sellers to have a local bank card. After all, it is a cross-border business with a complicated process, and most sellers do not have this condition. Of course, if you have friends in Malaysia, Singapore and other regions, then you will definitely have more advantages.

Although Shopee local stores do not charge commissions, they will charge a certain fee for collecting payments from service providers. However, compared with cross-border stores, the overall fee is relatively low, but the risk is also relatively high. The most important thing for everyone is to choose which type of store to open based on the actual situation. It is relatively simple to collect payments on Shopee, but for domestic sellers, because they cannot control it themselves, if there is no reliable partner, then the risk of not receiving payment is very high. Therefore, you must see whether it is suitable to run a Shopee local store based on your own advantages, so that you can run the store better.

How does Shopee platform transfer money?

If the seller has bound a Payoneer, PingPong or LianLianPay payment account in the background, the platform will settle the payment for the seller in each cycle through the corresponding third-party payment provider bound by the seller.

If you have not opened a P card, you need to open it yourself; if you already have a P card, please remember to enter SellerCenter to bind your P card after opening the store at each site.

What is the payment cycle and frequency?

Shopee's payment cycle is once every two weeks, at the beginning and middle of the month respectively. The payment amount is the orders completed within two weeks before the payment date.

1. What currency is used for settlement?

The Singapore site uses SGD for settlement, and other sites use USD for settlement.

2. Do I have to use the company's P card? Can a personal account be used?

There is no restriction on personal accounts and company accounts, as long as it is a P card account that can be used normally.

3. How to replace the P card?

Delete the P card in MYWallet (My Wallet) in the PC seller center and rebind a new P card.

4. I have already linked my Payoneer account, but the backend keeps reminding me to link my bank card. What should I do?

As long as the P card is bound to the Shopee backend and shows Active status, the seller can receive the payment normally without binding a bank card.

It is recommended to consider qualifications, evaluation, credit, services, etc. It is very important for a domestic Shopee local account to choose a guaranteed service provider, otherwise it may be a waste of time.

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