Online Merchants Find Solution for Cross-Border Payments and Delayed Amazon Payouts Continue reading
Feb 04, 2021 /prREACH/ -- SellersFunding, a leading fintech provider for sellers on Amazon, Shopify, Magento and other marketplaces, today announced the release of its streamlined cross-border eCommerce payments system to help online merchants avoid hefty currency conversion fees and payment fees for sales in the UK and EU.
eCommerce sales in Western Europe rose more than 26 percent in 2020 (eMarketer), and Amazon remains the largest marketplace. International sales presents enormous growth opportunities for online merchants.
“The main challenges for international sellers are having access to an efficient and affordable payment processing system, and generating a reliable, predictable cash flow to support business readiness for selling abroad,” said Ricardo Pero, Chief Executive Officer of SellersFunding. “We are providing an integrated cross-border payment processing tool, combined with easy-access financing solutions in order to regulate daily cash flow and have access to working capital for business growth, all in one platform.”
Finding a fast and affordable system for converting and withdrawing their marketplace payouts in local currencies is essential for online businesses to thrive globally. In addition, with Amazon payouts sometimes delayed up to 14 days, sellers struggle to maintain operational efficiency—paying suppliers and maintaining the inventory they need to grow their businesses.
As a solution, SellersFunding has released their Digital Wallet cross-border conversion and payments tools for eCommerce in the UK and EU.
The SellersFunding Digital Wallet features the ability to:
- Collect marketplace payments in USD, CAD, GBP and EUR in a single application.
- Hold balances for payments and transactions with no monthly fees.
- Withdraw and pay suppliers in local currencies.
The SellersFunding Daily Advances and Working Capital solutions include:
- Daily advances of up to 90 percent of the previous day’s sales to help sellers avoid cash flow gaps and to regulate the logistics of a growing eCommerce business.
- Access to up to $1 million in working capital to increase reach and grow product inventory.
“We’re excited to be the first to provide our customers selling in the UK and EU with an all-in-on payments and financing platform that gives them a distinct advantage over their competition,” said Pero. “We will continue to release tools to provide our merchants with a single point of access for all of their business financial needs for the lowest fees in the industry.”
Demonstrating its massive growth trajectory, SellersFunding recently announced its global expansion of its industry-leading eCommerce financial services platform as well as closing a $100 million USD global eCommerce funding program with European investment manager, Fasanara. In the U.S., SellersFunding opened its tools to Walmart marketplace sellers last week.