Amazon Marketplace Payments. Amazon Marketplace is a big retailing company with over 150 million monthly visitors only from the US. As a seller in Amazon Marketplace, you are open to great opportunities for expansion. Also, even your dormant business on the platform can improve and you get paid. But the question is how do sellers get paid in this marketplace? In this article, we will show you how to get.
What is Amazon Marketplace? – Amazon Marketplace Payments
Amazon Marketplace is an e-commerce platform that belongs to Amazon. It is a third-party retail market that is combined in the same platform. This Marketplace offers customers a large range of items to choose from. External sellers and the price comparison which makes for competition on the platform.
How Does Amazon Marketplace Payments Work?
According to Parker Eakin, all sellers on Amazon Marketplace payments are on tracked and paid automatically. This is done after every two weeks to the bank account number the seller submitted during setting up of details. Each of the sale made in two weeks are added to the payment balance, minus any fees that are associated with Amazon fee example; Commission.
Also, seller central associate fees are deducted from the payment, fees like the monthly fee for your seller central account. If it is on a professional selling plan, inbound shipping fees, storage fees, and product refunds. However, sellers are not allowed to see Amazon advertising fees and it is deducted more often. And are charged to the credit card of the seller central account.
What’s the Amazon Seller Payment Schedule?
Amazon Seller Payment Schedule is usually done at the end of the 2-week payment period. The payment gets to the seller’s account in 2- 5 business days.
Also, One may wonder if the payment process is different methods based on the fulfillment method. The Amazon fulfillment methods are; fulfillment by Amazon, Fulfillment by Merchant and Seller Fulfilled Prime. All amazon Filfument methods have the same payment process. However, the only exception is on the deduction of the different fees depending on the fulfillment method you choose.
Amazon Marketplace Payments Complications
However, Amazon Marketplace Payments can be complicated for sellers especially when items are returned. Amazon will hold some part of your payment for seven days. After such items have been returned to cover up for charges on returns. This means that your balance will not be transferred until after seven days. Also, if your repaid before 7 days you won’t get payment for those sales for another 14 days. According to Drew Kalinski, founder of Amztut an online resource for teaching people about selling online digs into the weeds. So you are left with 21 days to receive for the first payment for any sale Amazon
Third-party Payment Solutions
However, you will get paid fast at least every day or once a week, check on the third-party solution. According to Kalinski, Payability offers payments for Amazon sales on a regular basis. This can improve your cash flow, which makes it easy to buy new inventory and expand your business. Payability has two financing programs, instance Advance, and instant access. The instance advance gives a lump sum of capital that is equal to one month’s worth of sales revenue. While instance access offers daily, next-day access to your sales on Amazon Marketplace, or any Marketplace that pays on terms.
Mistakes to Avoid on Amazon Marketplace
There are some mistakes you should avoid base on your dealing with Amazon Marketplace.
- Also, Ensure that your inbound items are well label and properly package as Amazon policies. If not done properly and a Staff has to rework on the item, you’ll be charged and not be notified.
- Be watchful also if Amazon is handling your shipping and breakage for reason of return. Be watchful raise a claim with Amazon to get a percentage of the selling price within 5 days of return.
Always track your fees and have the knowledge of the exact amount to pay on each item sale. This will guide you in knowing if you are making profits. And if Amazon has made mistakes for things or services. Such as price, overcharging you for storage and shipping fees, the measurement size of the product.