How about Amazon Global Payments? What are the advantages?

Amazon's cross-border e-commerce platform has a lot of sales every day. Consumers who want to buy overseas products are willing to consume on this platform and adopt the Amazon global payment model when paying. So how about Amazon global payment?

Advantages of Amazon Global Payments:

1. Official payment, safer and more stable

The most essential advantage of Amazon's own payment service and other third-party payment platforms is that they are more secure and the payment is more stable. There is no need to worry about some common payment problems that may occur on third-party payment platforms.

2. One-stop management, more convenient and faster

Amazon has integrated this service with its seller platform, allowing sellers to easily manage global payments directly on the Amazon platform, which is more convenient and quick.

3. Simplified process and fast payment time

Amazon Global Payments simplifies the currency exchange and payment process, with funds arriving in as fast as three working days. It also makes it convenient for sellers who do not have foreign bank cards and third-party accounts to deposit foreign currency directly into domestic bank accounts.

Disadvantages of Amazon Global Payments:

1. High handling fees

The advantages of Amazon's global payment service are obvious, but of course, its disadvantages cannot be ignored. Sellers also attach great importance to the cost and handling fees of payment services.

This time, Amazon's global payment service fee is unified at 0.3%. Judging from the current market conditions, the advantage is not great, so sellers may need to consider more in terms of fees.

2. No value-added services

Amazon's global payment service is single and currently has no value-added services. Compared with third-party payment platforms that provide comprehensive financial services such as VAT payment, advance loan, and agency export tax refund, Amazon's global payment service is currently unable to meet the needs of sellers for refined operations.

3. Only one card and one number

Currently, one card number can only receive payments from one account through Amazon's official global payment system. Therefore, if the seller has multiple payment accounts, it will be more troublesome to use Amazon's global payment system, and the funds cannot be collected and managed in a unified manner.

What are the third-party payment platforms?

Generally speaking, sellers who do not have local bank accounts in the United States or Hong Kong must use third-party payment platforms to repatriate money to China. The more commonly used third-party payment platforms on the market are: Payoneer, WorldFirst, PingPong, iPayLinks, etc.

According to our understanding, Amazon's global payment method has its own advantages and disadvantages, which have been fully introduced in the above content. In addition, Amazon has formulated a test fee for its global payment service, which is uniformly set at 1.25%.

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