How to set up Amazon payment method? What payment method to use?

To open a store on the Amazon platform, merchants need to set up the basic information of the store in advance, and then publish products. When publishing products, we need to set the payment method so that consumers can take pictures and pay. So, how to set the payment method?

1. How to set up payment method?

Take the example of Amazon US sellers setting up Payoneer card payment method:

1. Log in to your Amazon account, click "Settings", select the deposit method, click Add, and then fill in the information.

2. Log in to Payoneer, click "Receive - Global payment services", then select USD to see your USD account

3. Fill in the corresponding Payoneer Amazon payment account information in Amazon, click Submit, and the binding is completed.

Next, Amazon will automatically transfer the payment to your bank account, and the arrival time is usually 2-5 working days.

You can use dual-currency credit cards to pay for purchases on Amazon. Although the payment is in USD, the credit card repayment is in RMB. Amazon does not currently support Alipay payments.

2. What payment method do you use?

1. Payoneer

Payoneer, commonly known as P-card, is currently the only official partner of Amazon in the payment collection category, providing global payment solutions, supporting multi-platform stores in all currencies, and can also receive US B2B funds like US companies.

2. World First

Commonly known as WF account, it is a top international remittance company registered in the UK, with offices in the UK, the US, Australia, Singapore, and Hong Kong, providing 24-hour Chinese telephone service. When withdrawing cash, WF will automatically transfer it to the legal person's private account or public bank card bound to the seller.

3. PingPong

A startup in Hangzhou, China, it launched a cross-border payment platform in 2016, focusing on providing Amazon payment services for Chinese cross-border e-commerce.

4. Amazon Global Payments

Amazon Global Payment Service is integrated with the seller platform, and sellers can easily manage global trade payment transactions directly on the Amazon platform. Amazon is also working hard in this direction. Amazon Global Payment Service supports 9 major Amazon overseas sites (North America, Europe, and Japan).

5. Currencies Direct

Currencies Direct entered China in 2016 to help cross-border platform sellers collect and settle foreign exchange. Currencies Direct works closely with world-class banks such as Deutsche Bank and Barclays Bank to provide platform sellers with payment accounts in US dollars, euros, pounds, yen, and Canadian dollars, and supports withdrawals in the original currency or RMB to the company, legal person, or any shareholder's personal bank account, which is quite flexible.

The payment method settings of Amazon are slightly different for different sites. The payment method settings here are for reference only. If you have any questions, you can directly consult the platform customer service. In fact, there are still many payment methods on the Amazon platform, and merchants can set up more than one.